Fascist Oligarchs Attack Cute Cuddly Canadians Message Board

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Strategies & Market Trends : Fascist Oligarchs Attack Cute Cuddly Canadians

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To: Tommy Moore who wrote (472)	7/26/2002 2:54:59 PM
From: Eashoa' M'sheekha	Read Replies (1) of 1293

Canada wins key softwood bout By TERRY WEBER Globe and Mail Update Friday, July 26 – Online Edition, Posted at 2:05 PM EST Canada won a critical round in the long-running softwood lumber dispute with the United States when the World Trade Organization ruled Friday that preliminary U.S. duties were wrongly imposed. "This was a fundamental win for Canada...I am very satisfied," International Trade Minister Pierre Pettigrew told reporters on a conference call from London. But a U.S. source also told Reuters News Agency that it was a mixed ruling. The decision has been viewed as a key step in the trade battle, although it also isn't likely to be the final word because both sides have the ability to appeal the ruling. The world trade body ruled the United States erred on several points when it levied preliminary duties worth 19 per cent on imports worth about $10-billion annually in Canadian softwood. The case involves only preliminary duties applied late last year after the last softwood agreement between Canada and the U.S. expired. Canadian lumber producers now face crippling duties averaging 27 per cent to ship lumber to the United States as a result of subsequent U.S. rulings. The duties, part of a decades-long trade spat between the two countries over softwood lumber, were imposed by the United States in May. Canada is fighting the duties through the WTO and the North American free-trade agreement. The latest decision deals with the first complaint made by Canada to the Geneva-based WTO. Five other complaints have since been lodged. The WTO was expected to rule on whether stumpage fees — what lumber companies pay provinces to cut trees — are subsidies and whether the United States can use cross-border timber price comparisons to make its case against Canada. The United States argues that Canadian producers have been given an unfair advantage over its U.S. counterparts because of low stumpage fees in this country. Those fees, the United States argues, amount to unfair subsidies. Canada denies those claims. Canada's $10-billion lumber industry has faced increasing financial pressure since the imposition of the duties, with several small British Columbia producers being forced to shutdown. In Quebec, Abitibi-Consolidated Inc. has also decided to either close or reduce output at five mills as are result of the tariffs. Another 22 other mills in Quebec and British Columbia are being temporarily closed. With a file from CP -------------------------------------------------------------------------------- Copyright © 2002 Bell Globemedia Interactive Inc. All Rights Reserved.

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