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Tembec and Canfor ask for $450M

Citing a violation of a Nafta clause, Tembec and Canfor are demanding the U.S pay them $450 million. The watershed …

Citing a violation of a Nafta clause, Tembec and Canfor are demanding the U.S pay them $450 million. The watershed claim alleges that import duties devalued their facilities. Bloomberg recently reported that the lumber producers contend the 21% duties on Canadian softwood lumber imports severely damaged their U.S. investments, and therefore breaches a provision of the North American Free Trade Agreement. Bloomberg further reported that U.S. officials contend that upholding the claim would open a Pandora’s Box by lending legitimacy to any potential subsidy claim.