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U.S. accuses Canada of violating softwood lumber pact
OTTAWA`Canada is being brought before an international court by the United States, which alleges British Columbia is breaking the 2006 softwood lumber agreement by selling the province`s timber at artificially low prices.
The U.S. trade representative has asked the London Court of International Arbitration to rule on the complaint that, insiders say, could result in a fine of up to $500 million.
Under the rules, a decision from the London court is final. The process can take up to two years to reach a verdict.
The complaint accuses the B.C. government of `dramatically` increasing the amount of timber it is selling that has been infested by the mountain pine beetle at the cut-rate price of 25 cents a cubic metre.
Read the full article here.
OTTAWA`Canada is being brought before an international court by the United States, which alleges British Columbia is breaking the 2006 softwood lumber agreement by selling the province`s timber at artificially low prices.
The U.S. trade representative has asked the London Court of International Arbitration to rule on the complaint that, insiders say, could result in a fine of up to $500 million.
Under the rules, a decision from the London court is final. The process can take up to two years to reach a verdict.
The complaint accuses the B.C. government of `dramatically` increasing the amount of timber it is selling that has been infested by the mountain pine beetle at the cut-rate price of 25 cents a cubic metre.
Read the full article here.