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Tembec Expects Lumber Prices Will Rise to Offset Cost of U.S. Softwood Duties

(Canadian Press)

Tembec Inc. says it expects a portion of the duties being imposed by the Trump administration on imported Canadian softwood will be passed on to its customers.

The Montreal-based forestry company (TSX:TMB) says it’s in good financial position despite being hit by a preliminary 19.88 per cent duty on its softwood shipments to the United States that took effect on Monday.

Tembec says it intends to vigorously defend itself against the U.S. duties, but it anticipates the duties will mean higher lumber prices for customers. Click here to read more.

Related: B.C. Premier Hopes to Hit Back At Lumber Tariff with U.S. Coal Ban (Huffington Post)