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Stock impact report

Canada can leverage U.S. need for lumber in trade talks: trade expert [BNN Bloomberg (Canada)]

Raymond James Financial, Inc. (RJF) 
Last raymond james financial, inc. earnings: 4/29 04:35 pm Check Earnings Report
US:NYSE Investor Relations: raymondjames.com/investor-relations
Company Research Source: BNN Bloomberg
U.S. President Donald Trump's claims the U.S. doesn't need anything from Canada yet Canada produces about 25 per cent of all U.S. lumber demand. Nearly 90 per cent of softwood lumber is exported to the American market. “The good news is they need our wood. We think that there's an ability to make a deal at some point,” Daryl Swetlishoff, head of research at Raymond James Ltd. told BNN Bloomberg in an interview. Softwood lumber tariffs now reached a combined 45 per cent after the U.S. added a 10 per cent tax to existing anti-dumping and countervailing duties. CUSMA ensures a large portion of goods remain tariff-free, however softwood lumber is specifically excluded from these protections. While the U.S. relies on Canadian supply, Swetlishoff said Canada relies on the U.S. as it's primary customer. He said the sheer volume of Canadian production makes diversification to markets in Europe or Asia difficult. “We have a very efficient large industry and the reality is the U.S. wil Show less Read more
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