The lumber industry in B.C., already subject to U.S. duties, is bracing for hard times ahead if U.S. President Donald Trump follows through on threats of further tariffs.
The softwood lumber industry is bracing for devastation if U.S. President Donald Trump implements his trade tariffs next month. One local sawmill says the tariffs would mean paying more to produce the lumber than they'd be able to sell it for. Victoria Femia has the story.
“We don’t know what’s going to happen, businesses don’t like to not know what’s coming because you can’t make investment plans,” said Nick Arkle, CEO of Gorman Bros. Lumber. “About 60 per cent of our lumber in B.C. for the last couple of years has been going to the U.S., which in a way is funny because we have the president saying ‘We don’t need their trees.’ Well, that’s false. They do need our trees,” BC Forest Minister, Ravi Parmar said.For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen.
Already dealing with U.S. duties of 14.4 per cent, and the industry is bracing for that to rise to 30 per cent in August. The softwood lumber industry could face even more pain from Trump’s tariffs.
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