Maine Welcomes Trump Tariff

Posted by Davd Oliver on 4/27/2017 to Market Sectors

IncSmart Maine (Small Business and Startups) - The Trump Commerce Department will start imposing duties of up to 24 percent on lumber imported from Canada. Canada has been dumping lumber on the American market below cost. Canadian exports are 70 percent of its total production to the United States. The consequence of the tariff however has not hurt shares of Canadian lumber companies. They surged after the tariffs on lumber turned out to be less aggressive. The lumber futures also fell by $10 or 2.5% exchange in the Chicago futures market. They may decline further to 20 %.

The Maine sawmill owners are breathing a sigh of relief. Canadian lumber dumping has been devastating to American jobs and communities. Maine sawmills employed 1,996 people last year, down from 2,365 in 2001. Paper mills, wood pellet makers and firewood dealers will also see an increase in employment.

By David Oliver

Starting a Business in Maine - Maine Corporation - Maine LLC

For 10 years, IncSmart.biz Business Services has helped companies and people from all over the world form Maine Corporations and Maine Limited Liability Companies. When you call, email, text, message or live chat with our office, expect personal attention. Small business is the heart of IncSmart. #incsmart