Octavius Hite
Joined: 28 Jan 2004
Location: Househunting, looking for a new bunker from which to convert the world to homosexuality.
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 Posted: Tue Nov 22, 2005 10:35 pm Post subject: The US caves in and Canada wins, sort of..... |
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So finally the US is caving on those stupid softwood lumber duties, but they are not going all the way. However this is still a victory for Canada and a slap at those wacky yankees.
http://www.ctv.ca/servlet/ArticleNews/story/CTVNews/20051122/softwood_duties_051122/20051122?hub=CTVNewsAt11
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U.S. reduces softwood duties to less than 1%
CTV.ca News Staff
The U.S. Commerce Dept. will slash its duties on Canadian softwood lumber in accordance with a NAFTA ruling.
The duty will fall from 18.8 per cent to 0.8 per cent, although the change won't occur for about six weeks as the matter works its way through the "comments" period.
However, an official said the U.S. retains the right to appeal the ruling under the North American Free Trade Agreement.
"We start off with a premise that Canada subsidizes lumber,'' John Sullivan, the department's general counsel, told The Canadian Press on Tuesday.
"We're complying with the panel's decision but we don't agree with it,'' he said.
"Under NAFTA procedures, the case is not final.''
In a news release, U.S. Commerce Secretary Carlos Gutierrez said: "Only a durable negotiated resolution will resolve this dispute permanently.''
"We will continue to enforce our trade laws to ensure that the U.S. industry receives relief from unfair imports and we are reviewing all options to do so.''
The NAFTA dispute resolution panel has told the U.S. five times it must all but eliminate its high tariffs on imported Canadian lumber.
To date, the U.S. has not complied, using favourable World Trade Organization rulings as support for its position.
Canada estimates the duties have cost it $5 billion.
The softwood dispute is probably the biggest irritant in U.S.-Canadian trade relations.
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