Canada-U.S. Trade Deal Unlikely Before 2024 Midterms, Sources Say
Canadian lumber exporters are grappling with a 25% tariff imposed by the United States, a figure that has stalled trade talks. That tariff, applied to every board of wood shipped from Canada, has forced Canadian firms to seek costly alternative routes. The lack of a new agreement threatens to widen supply chain disruptions for both countries. CBC News reports that the window for a deal has effectively closed before the U.S. midterm elections.
What Happened
On June 20, CBC News received an account from a senior U.S. trade negotiator who said the Commerce Department had moved to a position of "firm opposition" to any concessions on the current tariff schedule. The U.S. Commerce Secretary Gina Raimondo, in a press briefing on June 22, reiterated that the u
Despite the tariff, U.S. home‑builders have been buying more Canadian lumber than before because Canadian firms offer longer‑term price guarantees that offset the duty.
