A 25% tariff is in effect this morning affecting all Canadian lumber exports to this country. This is on top of a 14.5% duty that most Canadian mills are already paying. There was hope of a last-minute delay by the administration, but this did not occur. There was a flurry of activity and orders in the eastern spruce lumber market ahead of yesterday’s midnight deadline, especially with mills willing to sell regardless of the tariff. Most mills though were resigned to wait and see what would happen. Today begins a new day for the market.
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