The United States will impose preliminary anti-subsidy duties averaging 20% on imports of Canadian softwood lumber, Commerce Secretary Wilbur Ross said on Monday, escalating a long-running trade dispute between the two neighbors.
Crude oil prices are dead with Rig-or Mortis, or the adding of oil rigs weigh on market sentiment. Shale producers are expected to continue leverage up to the hilt with some producing the type of oil that no one really wants with hope that prices do not crash and drive them into bankruptcy. The confidence of the shale producers comes from OPEC which is astounding the world by adhering to production cuts.
The double-digit-dollar decline in the value of Lumber Liquidators' shares has wiped more than 20% off the value of the company in the wake of Sunday’s 60 Minutes documentary alleging the U.S. retailer of hardwood flooring had installed Chinese-made laminate flooring containing formaldehyde at unacceptably high levels.
North American mills are sawing lumber at the fastest pace in six years after a recovering U.S. housing market, a beetle infestation in Canada and increasing Chinese demand drove the biggest price surge in two decades.