Senate Finance Committee Chairman Max Baucus (D-Mont.) issued the following statement today following a decision by an arbitral panel, the LCIA (formerly the London Court of Arbitration), to reject Canada’s claim that its offer to pay the U.S. Government approximately $36.6 million in compensation cured an earlier breach of the Softwood Lumber Agreement (SLA). In April 2009, the U.S. Government imposed 10 percent duties on softwood lumber imports from Canada’s Eastern provinces after Canada was found to be in violation of its obligations under the SLA.
From Chairman Baucus:
“Earlier this year, the United States took strong and decisive action to hold Canada accountable to its obligations under the Softwood Lumber Agreement. Today’s arbitral decision shows that enforcing our trade agreements works. It works for the Softwood Lumber Agreement, it works for all our international trade agreements and most importantly, it works for Montana’s - and America’s - lumber producers, farmers, ranchers and manufacturers."
Source: Ranking Member’s News
