Canadian lumber sector hit hard as U.S. tariff hike forces mill closures

The U.S. Department of Commerce plans to raise tariffs on Canadian softwood lumber to 34% this fall, marking the latest escalation in the decades-long trade dispute between the two countries. Faced with this grim situation, Kurt Nikitte, chairman and chief economist of the British Columbia Timber Trade Council, said: “At present, we need strong support measures to cope with this storm.” He warned that the increased tariffs will strain financial liquidity for most timber companies in the province and called on the federal government to offer emergency loans and support to help the industry weather the blow ...