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Lumber company shares rise on news the U.S. intends to cut softwood duties

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Shares in Canadian lumber companies are on the rise on news that the U.S. government intends to cut its duties on softwood lumber imports in August.

In early trading in Toronto on Tuesday, Canfor Corp. stock rose as much as 7.5 per cent, West Fraser Timber Co. Ltd. jumped by 6.2 per cent and Resolute Forest Products Inc. was up three per cent.

He says West Fraser's rate may fall from 23.6 to 9.1 per cent, Canfor's from 20.5 to 4.6 per cent and Resolute's from 17.9 to 15.8 per cent. The U.S. imposed duties on most Canadian softwood exports in April 2017, alleging that Canada was unfairly subsidizing its industry and then dumping wood into the U.S. at unfair prices.

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It's about time. Maybe the lumber sector get back to work now.

US needs to lower building costs. Someone realized that paying duty to the US government was costing the average citizen.

Trudeau will personally make alot of money.

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