PhotoWASHINGTON — The Trump administration announced on Monday that it would impose new tariffs on Canadian softwood lumber imports, escalating a longstanding conflict with America’s second-largest trading partner. The United States imported $5.7 billion in softwood lumber last year alone, mainly for residential home building. In the United States, forest lands are largely held by lumber companies. A temporary truce under President George W. Bush, which effectively limited Canadian exports to the United States, expired in 2015. For other Canadian lumber companies, it set a tariff rate of 20 percent.

Source: New York Times April 25, 2017 03:00 UTC