PhotoWASHINGTON — The Trump administration announced on Monday that it would impose new tariffs on Canadian softwood lumber imports, escalating a longstanding conflict with America's second-largest trading partner. For other Canadian lumber companies, it set a tariff rate of 20 percent. The United States imported $5.7 billion in softwood lumber last year alone, mainly for residential home building. A temporary truce under President George W. Bush, which effectively limited Canadian exports to the United States, expired in 2015. In the United States, forest lands are largely held by lumber companies.
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The USA's trade deficit, like its fiscal deficit, reflects the global hegemony of the USA. Viewed in this light, this move simply looks like yet another attempt to pacify American lumber producers. Commerce Secretary Wilbur Ross has just announced a new 20% tariff on imports of Canadian softwood lumber. But Trump's trade team doesn't have even a basic grasp of international trade economics. The USA's trade deficit arises from the interplay of finance and trade among all the countries in the world.
The Trump administration announced it will impose a 20 percent tariff on imported softwood lumber from Canada. "Included in there is lumber, timber and energy. The U.S. timber industry has complained for decades that Canada subsidizes its lumber products which are then sold at below-market prices in the United States. Canada changed its policy on pricing domestic milk to cover more dairy ingredients, leading to lower prices for Canadian products including ultra-filtered milk that compete with U.S. milk. In an interview with The Wall Street Journal, Commerce Secretary Wilbur Ross said the tariff will be applied retroactively.
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collected by :Jack Luxor
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President Trump's Tariff On Canadian Softwood Lumber Imports Will Hurt America Most
The USA's trade deficit, like its fiscal deficit, reflects the global hegemony of the USA. Viewed in this light, this move simply looks like yet another attempt to pacify American lumber producers. Commerce Secretary Wilbur Ross has just announced a new 20% tariff on imports of Canadian softwood lumber. But Trump's trade team doesn't have even a basic grasp of international trade economics. The USA's trade deficit arises from the interplay of finance and trade among all the countries in the world.
Trump Administration To Impose 20 Percent Tariff On Canadian Lumber
The Trump administration announced it will impose a 20 percent tariff on imported softwood lumber from Canada. "Included in there is lumber, timber and energy. The U.S. timber industry has complained for decades that Canada subsidizes its lumber products which are then sold at below-market prices in the United States. Canada changed its policy on pricing domestic milk to cover more dairy ingredients, leading to lower prices for Canadian products including ultra-filtered milk that compete with U.S. milk. In an interview with The Wall Street Journal, Commerce Secretary Wilbur Ross said the tariff will be applied retroactively.
read more visit us Markets
collected by :Jack Luxor
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