Lumber talks stalled: West Fraser CEO

VANCOUVER — The lack of progress in NAFTA talks gives U.S. lumber industry lobbyists no incentive to compromise in the parallel softwood negotiations, the largest Canadian forestry firm’s CEO warns. In a conference call, West Fraser Timber’s Ted Seraphim told analysts that a resolution was in the hands of the U.S. Lumber Council, whose leaders “haven’t shown a willingness to effectively negotiate,” the Globe & Mail reports.
At the same time, the corresponding rise in lumber prices has largely allowed Canadian producers to ride out the controversy. “Frankly, given that we’ve been able to pass on most of the duties, I think patience on the Canadian side will be a virtue in the long run.” The U.S. Commerce Department however is due to render a final decision by Nov. 13. If it sides with American lumber producers, Canadian firms will have to pay combined final tariffs next year.