Canadians are now playing in a high stakes poker tournament.
They didn’t need to qualify for this tournament, either – they got a seat at the table when America voted for Donald Trump.
A cornerstone of Canada’s economic growth since 1993, has been the North American Free Trade Agreement. However, that agreement is in jeopardy. CNN reported on November 16, that reshaping of America’s trade policy begins on Day 1.
That will mean a revival of softwood lumber disputes between the U.S. and Canada. The existing softwood lumber deal expired October 12, 2015 and the deadline to negotiate a new deal has passed. In July, 25 senators sent a letter to U.S. Trade Representative Michael Froman. They alleged “that Canada lumber is subsidized, unfairly traded and has decades’ worth of well-documented adverse economic impacts in the U.S. The U.S. contends that Canadian forestry companies have an unfair advantage over their American counterparts because the Federal government owns most of the forested land and gives Canadian companies access at below market rates. The argument started in the 1980s and has never gone away despite the World Trade Organization (WTO) ruling in Canada’s favour on a couple of occasions. Trump and his team will be all over this issue like bark on a tree.
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