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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Knighty Tin who wrote (116516)8/10/2001 11:43:37 AM
From: Mark Adams  Read Replies (2) of 436258
 
DJ US/Duties On Cdn Softwood Imports-2:Bigger Penalty Likely

NEW YORK (Dow Jones)--The Bush administration announced Friday it will slap a 19.3% penalty on Canadian lumber to counter what it ruled were unfair provincial subsidies, Canadian Press reported.

The U.S. Department of Commerce is also expected to rule that Canada's lumber producers took advantage of the expiration of a five-year Softwood Lumber Agreement this spring to dump tons of low-cost wood into the U.S. market,
according to Canadian Press.

That determination will mean an even heavier penalty and will open the door to retroactive tariffs against Canada's largest export sector, Canadian Press reported.
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