Signed Sealed Delivered
By 250 News
Its a done deal, the Softwood Lumber Legislation has received Royal Assent.
David Emerson, Minister of International Trade, says "This important event is the last step in implementing the Softwood Lumber Agreement between Canada and the United States and marks a tremendous achievement for Canada’s New Government,”. Emerson says the deal will let softwood companies "grow their businesses, contributing to Canada's economy and sustaining jobs in hundreds of lumber-dependent communities across Canada.”
Maxime Bernier, Minister of Industry says the cash infusion from the duty refunds will be a boost, “The Agreement has meant a much-needed infusion of capital—more than $5 billion—for an industry facing weak markets,”
The deal came into force on October 12th. Within a month, Canadian lumber producers who wanted to gety their refunds back in the 2006 taxation year, started receiving their duty refunds.
The Softwood Lumber Agreement is supposed to provide the softwood lumber industry with a more stable, predictable trade environment for the next 7 to 9 years.
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Insofar as the infusion of the 5 billion dollars into the Canadian Economy, I wouldnt hold my breath. Canfor has bought some US Mills recently and so has West Fraser (13 in fact) and you will see more of this money spent in the USA and China, and probably Russia, and Poland.