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January 14, 2019
Trump administration’s lumber tariffs forces Canadian producers to idle sawmills
U.S. lumber prices reached record prices during the first half of 2018, but have come to plunge 47% starting May 2018. Moreover, prices could fall another 15% in 2019, amid weak housing starts. Meanwhile, Canadian producers are paying average tariffs of more than 20% tariffs on timber shipments to the U.S., their biggest customer. Thus, Interfor Corp slashed output by 20% at its sawmills in British Columbia in the fourth quarter, Canfor Corp curtailed output by about 10% and West Fraser Timber Co. said it will permanently shut 300 million board feet of capacity ...
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