The symbolism of the King's throne speech, and what Carney faces after
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
National Post
26 minutes ago
- National Post
Trump could crush Canada's softwood exports. Here's how a new crisis could play out
WASHINGTON, D.C. — The Canada-U.S. softwood lumber trade relationship has dealt with ups and downs, disputes and resolutions, for decades. Anxiety for Canadian exporters is reaching a fever pitch again as the U.S. threatens to more than double softwood lumber duties and add even steeper tariffs under a national security investigation. Article content Canadian foresters, mills, and governments that enjoy taxes, economic spinoffs and stumpage fees from Crown land will feel the pain if they lose too much access to the massive U.S. market. But larger producers have been preparing for just this kind of contingency and have cleverly hedged their bets, building capacity in the U.S., where they can sell as much as they want to Americans, tariff-free. Article content Article content Canadian firms will soon receive word from the U.S. Commerce Department's Sixth Administrative Review (AR6) of U.S. countervailing and anti-dumping duties on Canadian softwood lumber exports, with the rate expected to jump from around 14 per cent to roughly 34 per cent. For Canfor, the Vancouver-based lumber giant selected as a mandatory respondent in the AR6 review, it will be even worse. Its duties are calculated based on its own shipments and prices, not an industry average, like it is for other companies. Article content Article content Then there's the threat of tariffs from President Donald Trump's ongoing national security investigation of Canadian lumber imports under Section 232 of the Trade Expansion Act, which he ordered in March and is due late this year. Currently, lumber shipments are exempted from Trump's baseline tariffs, because they're covered by the U.S.-Mexico-Canada trade deal (USMCA), but that could soon change based on the findings of the 232 probe. Article content Article content National Post breaks down the position of the two countries, what the impacts could be, and how Canadian producers are trying to mitigate the potential damage of punitive trade barriers. Article content Article content The U.S. Lumber Coalition is playing for keeps. It backs higher anti-dumping duties and tariffs for what it sees as a subsidized domestic industry. It claims Canadian producers don't pay market rates for stumpage because their forests are publicly owned and provincial governments set the stumpage rates, while U.S. producers face higher market rates. But it doesn't stop there: the U.S. coalition also wants to see Canada's U.S. market share significantly chopped. Article content Miller isn't shy about the goals: 'A countrywide quota with no exemptions and no carveouts, and a single-digit market share' for Canadian lumber. Article content Today, Canada has a 25 per cent market share, with exports of 12 billion feet of softwood lumber to the U.S. each year, according to the coalition. Softwood lumber accounts for about 7.5 per cent of Canadian exports; in 2023, the U.S. was the destination for 68 per cent of those forestry products. The whole industry is worth about $33.4 billion in sales annually and employs more than 200,000 workers across Canada, according to a report this year from RBC.
CBC
an hour ago
- CBC
‘We can't stop there': Marking 20 years since same-sex marriage was legalized
Twenty years after same-sex marriage became legal in Canada, couples who fought for that right and other advocates are celebrating the milestone while also acknowledging that there's a long way to go before reaching full equality.
CTV News
2 hours ago
- CTV News
‘Let's fix the basics': Bonnie Crombie on Ontario's position in trade talks
Video Ontario Liberal Leader Bonnie Crombie discusses what she hopes the province will gain from meetings between premiers and PM.
