New Nafta Could Settle Canada-U.S. Lumber War, Resolute CEO Says
- Tariff will only increase cost of homes, according to Garneau
- U.S.investigating allegations Canadian timber subsidized
Trucks deliver raw lumber at a mill in Thunder Bay, Ontario, Canada.
Photographer: James MacDonald/BloombergThis article is for subscribers only.
A renegotiation of Nafta could be used to settle a lumber dispute that’s been simmering between Canada and the U.S. for decades and threatens to make housing unaffordable for thousands of Americans, according to the world’s largest newsprint maker.
The Canadian government will probably want lumber included in a new North American Free Trade Agreement, Richard Garneau, chief executive officer of Montreal-based Resolute Forest Products Inc., said by phone. “I think that makes sense,” he said.