Canadian softwood lumber executives will meet this week with America's trade ambassador as they brace for the prospect of U.S. tariffs that they say could result in mill closures and layoffs. Lumber Trade Council. (Cliff Owen/Associated Press)Few industry observers expect the U.S. will budge from their quest for quotas to reduce Canada's share of the U.S. softwood lumber market. (Jonathan Hayward/The Canadian Press)Garneau called on Ottawa to provide Canadian lumber producers loan guarantees and funding to offset anticipated legal costs and duties. Federal International Trade Minister Chrystia Freeland said Canada is 'prepared to litigate' if a softwood lumber deal with the U.S. cannot be achieved.

Source: CBC News October 02, 2016 20:15 UTC