Trump’s ‘America First’ Vow Turned Upside Down in Lumber Market
- Shares of Canadian producers outperform U.S. counterparts
- Gains driven by surge in lumber prices from trade dispute
Why Canada and the U.S. Must Solve the Lumber Dispute
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Donald Trump’s policy on trade since becoming U.S. president has been all about putting “America First.” But in one corner of the commodity world, his actions are having the opposite effect.
In a move intended to protect the domestic lumber industry, the U.S. this year slapped duties of as much as 31 percent on imports of timber from Canada, which supplies more than a quarter of what American builders use each year. Prices surged, increasing costs for American buyers -- and boosting profit for Canadian producers.