Canada will be hosting an annoyed and angry United States as the sixth round of talks in the North American Free Trade Agreement renegotiation unfold over the coming week.
The ongoing softwood dispute with the United States may not be hurting Canada much yet, but the industry is bracing for a new trade battle with the U.S. that could take a bite out of a part of the sector that is already facing sharp declines.
The federal government vowed to aggressively defend Canada's softwood lumber industry after the U.S. International Trade Commission unanimously voted that American producers have been harmed by imports of subsidized Canadian lumber.
The governor of the Bank of Canada says that to avoid fuelling speculation, the central bank is resisting any in-depth study of what the sudden death of the North America Free Trade Agreement could mean for the Canadian economy.
Justin Trudeau is embarking today, July 3, 2017, on a week-long European sojourn that will culminate in a meeting of 20 of the world's largest economies.
The U.S. is imposing significant duties of up to 24 per cent on lumber imports — the latest flare-up in Canada's escalating trade skirmish with President Donald Trump's administration.
The world's top economic powers dropped a pledge to oppose trade protectionism amid pushback from the Trump administration, which wants trade to more clearly benefit American companies and workers.
