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Strategies & Market Trends : Fascist Oligarchs Attack Cute Cuddly Canadians -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (1267)	10/6/2006 7:28:29 PM
From: Snowshoe	Respond to of 1293

Canada says ready to implement U.S. softwood deal ________________________________________ news.yahoo.com 17 minutes ago The agreement to end the softwood trade fight between Canada and the United States will be implemented on October 12, Canadian trade officials said on Friday. The deal to end a major trade irritant between the political allies had originally been scheduled to go into force on October 1, but was delayed at the request of Canadian lumber producers who said they needed time to complete paperwork and end litigation. "Through flexibility, understanding and co-operation, both countries have successfully met all the requirements necessary to implement the softwood lumber agreement next week, and have found a satisfactory resolution to the outstanding legal and administrative issues," Trade Minister David Emerson said in a statement. The delay had been expected to last as late as November 1, which had prompted complaints from the U.S. lumber industry that its Canadian rivals were using the additional time to flood an already oversupplied market with more wood. The protracted dispute had soured bilateral relations as the U.S. lumber industry accused Canadians of using publicly owned forests to unfairly subsidizing their industry and export lumber at below-market prices. The deal signed last month would replace U.S. duties with a system of managed trade in which Canada will employ a combination of an export tax and restrictions on shipments that increase as prices in the U.S. market drop. With lumber prices now sagging under the weight of a weak U.S. housing market and abundant wood supply, some Canadian producers would see U.S. duties of just over 10 percent replaced by a 15 percent Canadian tax. But the agreement will also see the United States refund about $4.3 billion of the $5.3 billion in duties it collected during the trade fight, and Canadian officials say most firms should get the money back by the end of the year. About half the money not being refunded is supposed to be paid to the U.S. industry, although there has been fighting over how it will be divided between companies. Canada sold about $7.4 billion in softwood lumber such as pine and fir to the United States in 2005 and has traditionally supplied about a third of the U.S. market for the key housing construction material.