wnol.info September 26 2017

Trump Not Pulling Out of NAFTA 'at This Time'

September 26 2017, 07:21 | Alonzo Simpson

Lumber prices had been low since the last trade deal expired in 2015 and a moratorium allowed Canada to export softwood lumber duty free into the U.S.

However, it appeared Wednesday that Premier Christy Clark is willing to wade in.

There are concerns that President Trump's new tariff on Canadian lumber imports could jack up the prices of newly built homes. Beyond that, there's the bluster and the threats.

"We've got an appetite for [mergers and acquisitions]", Canfor CEO Don Kayne said on a conference call Thursday to discuss the company's slightly better-than-expected first quarter results.

"Housing starts and new-home sales are climbing during a shortage of existing homes on the market, generating gains in construction jobs and sales of building materials".

In Ottawa, the Canadian officials jumped up to respond Washington's decision to impose duties around 20 per cent on Canadian softwood products. "The expansion of B.C.'s thermal coal exports should have been halted long ago so that B.C. could be a leader in climate action and in the tremendous economic opportunities that come from developing the renewable energy sector", he said.

To be sure, she cited environmental issues related to those shipments, but also brought the softwood lumber dispute into it.

Freeland said she's glad that Canada's free-trade accord with the European Union, known as CETA, was completed before the United Kingdom leaves the EU.

Shares in the company tumbled earlier this week after the duties were announced but have since recovered and were trading at a one-year high of $19.89 midday Thursday on the Toronto Stock Exchange.

Ms. Clark's province has much at stake.

"Your overall framing accounts for 30 to 40% of the home, and of that your softwood contributes to roughly 70% of that".

He said Canada was hurting American dairy farmers near the border, from Wisconsin to NY, by blocking dairy exports "and we're not going to put up with it". Experts say that won't help Trump's future trade negotiations with Canada.

However, the White House said late Wednesday that Trump has told the leaders of Canada and Mexico that he will not pull out of NAFTA and that the leaders agreed to "proceed swiftly" to enable the renegotiation of NAFTA to the benefit of all three countries.

Leave it to President Trump to start feuds at both borders; a feat so freakish, Stephen Colbert devoted his Tuesday monologue to just that.

The White House has not yet released a readout of the phone call that took place hours later between Mr Trump and Mr Trudeau, but the Canadian Prime Minister's office made its position clear.

Trump tweeted Tuesday that Canada is making life "very difficult" for American dairy farmers and that the government "will not stand" for it.

Observers believe these are signals heading into NAFTA talks, as well as trying to make good on his campaign pledges.

"I think if we're going to try to get things done".

Trump's team chose to hit Canada with tariffs after talks failed to make it easier for United States dairy farmers to sell into Canada.

"I'm polite, but I'm also very firm in defending Canada's interests, " Trudeau said in an interview with broadcaster CTV.

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