Truce in the war with Canada

I had seen news of this a couple of days ago, but it took co-blogger Simon in Ontario to remind me of its importance. Maybe this is one thing the Bush administration did right. I'm not close enough to the issue to really know.

International Trade Minister David L. Emerson, Industry Minister Maxime Bernier and Canada’s Ambassador to the United States Michael Wilson today issued the following statement on the Canada-U.S. Agreement Ending the Softwood Lumber Dispute.

“I am pleased to confirm that we have reached an agreement with the United States effectively ending our long-standing dispute over softwood lumber. The Agreement outlines the terms for a fair and durable resolution and reflects Canada’s objectives and interests,” said Minister Emerson.

“The Agreement will see not only the revoking of duties but also the return to Canadian lumber producers of at least 80 percent of the deposits collected since 2002,” he added.

“For the next seven to nine years, when lumber prices are over US$355 per thousand board feet, no border measures will be imposed. If the softwood agreement were in place today, Canadian lumber would enter the United States without any restriction,” said Minister Bernier. “When prices are lower, a province will be able to choose the export measure that works best for its industry. Moreover, any charges collected will remain in Canada.”