On Nov. 25, President-elect Donald Trump announced he would impose 25% tariffs on Mexico and Canada. …Trump may once again rely on Sections 201, 301 and 232 to impose tariffs on Canada and Mexico. However, he has expressed frustration with the procedural requirements — and delay — attached to these provisions. Consequently, Trump has suggested that he will rely on other provisions… which may include the International Emergency Powers Act, Section 338 of the Tariff Act of 1930, and Section 122 of the Tariff Act of 1974. However, the legality of imposing tariffs pursuant to these provisions is unclear. …Mexico and Canada could seek a remedy via the USMCA dispute settlement mechanism… but the parties are not bound to follow these recommendations. …In the short term, companies should consider stockpiling goods at pretariff prices, prior to Trump’s inauguration on Jan. 20. In the long term, companies should look at options for diversifying their supply chains. [A subscription or free trial to Law360 may be required to access this full story]
VANCOUVER — Conifex Timber announced that it has amended and restated its existing credit agreement with PenderFund Capital Management Ltd. The restated agreement increases the aggregate principal amount of the secured term loan provided thereunder to up to $41 million, of which $5 million is available immediately, and the remaining $11 million is subject to completion of financial diligence. …“The additional borrowings will be used to fund a build-up in sawlog inventories to support our transition to a two-shift operation at our sawmill complex, effective January 6, 2025,” commented Conifex’s Chairman and CEO, Ken Shields. The decision to move to a two-shift operation was based on a steadily improving backdrop for lumber prices, as evidenced by the 18% improvement in cash prices for Spruce Pine Fir benchmark lumber prices in the fourth quarter of 2024 relative to those in the third quarter of 2024. 
Canada recorded a ninth consecutive monthly trade deficit in November, albeit smaller than expected as exports rose faster than imports, data showed on Tuesday. Total exports rose 2.2 per cent in November, helped by gains in a broad section of product categories, while imports were up 1.8 per cent, led by consumer goods and chemical, plastic and rubber products, Statistics Canada said. As a result, Canada’s trade deficit narrowed to $323-million from a revised $544-million deficit in October. Analysts polled by Reuters had expected a $900-million deficit in November. The trade surplus with the United States, by far Canada’s largest trading partner, widened to $8.2-billion from $6.6-billion in October. The surplus with the U.S. nearly offset Canada’s trade deficit with all other countries – which widened to $8.5-billion in November from $7.2-billion – underscoring the potential impact of the U.S. President-elect’s threat to impose tariffs on Canadian goods.
If president-elect Donald Trump… follows through with his tariff threat, it could have economic consequences for the U.S. lumber supply chain, according to Rajan Parajuli at NC State. …US. companies would likely attempt to recoup tariff-related losses by raising the price of Canadian softwood lumber, which would potentially impact the housing market by making building materials more expensive. …Parajuli highlighted the 2006 U.S.–Canada Softwood Lumber Agreement as an example of how tariffs can impact the supply chain. …Under the agreement, which was active until 2015, U.S. lumber producers gained $1.6 billion and U.S. consumers lost $2.3 billion as softwood lumber imports from Canada declined by 7.78% in the months when export taxes took effect. “U.S. consumers not only paid producers’ gains, but also the losses that resulted from the export taxes,” Parajuli said. In the long term, the U.S. would need to work with Canada to negotiate a new softwood lumber agreement, according to Parajuli. Germany, Sweden and other trade partners simply don’t have the inventory or capacity to displace Canada in lumber exports.
Rollercoaster market moves in the final days of 2024 offered a blunt reminder that investors are heading into a year of living dangerously. Stocks and bonds lurched lower after the Federal Reserve’s final policy meeting of the year, spooked by the notion that the central bank may be unable to keep cutting rates (as it had previously expected to) because of still-simmering inflation. The key is what Fed chair Jay Powell was careful not to say but what every fund manager knows: Donald Trump’s economic agenda could be bad for growth, fuel inflation, or even both. So for the first time in many years, investors have what they call “two-way risk” in the Fed policy. The central bank might be able to keep on cutting — the hunch is that this would be Trump’s preference. But it’s not outlandish to suggest it might start raising rates again instead. 
US mortgage rates climbed closer to 7%, threatening to squeeze buyers trying to crack into the housing market. The average on a 30-year mortgage rose to 6.91% as of Jan. 2, up from 6.85% a week earlier, according to Freddie Mac data released Thursday. A measure from the Mortgage Bankers Association advanced 8 basis points to 6.97% in the period ended Dec. 27, a nearly six-month high. High borrowing costs are weighing on affordability. …“It’s not exactly a good way to start the new year,” said Odeta Kushi, deputy chief economist at First American Financial Corp. “Industry experts are coming to the consensus that 2025 is another year of higher for longer for the housing market. It’s not great news.” Mortgage rates tend to track Treasury yields, which continued to climb in late December after Federal Reserve policymakers projected a slower pace of interest-rate cuts in 2025 amid sticky inflation.
For over 20 years, the BC Community Forest Association (BCCFA) has championed the community forest program, highlighting its ability to foster social, economic, ecological, and cultural resilience. …Community forests are long-term, area-based tenures managed by local communities to reflect local priorities and values. With 61 community forests currently operating across the province, and growing interest in local resource management, the program is gaining broad recognition and support. …According to the December BCCFA Newsletter, the city of Quesnel along with five First Nations, have come to an agreement on the establishment of the Three Rivers Community Forest (TRCF). …Farther south, the BCCFA provided Nakusp and Area Community Forest (NACFOR) with funding through the province’s Economic Recovery Initiative under the Crown Land Wildfire Risk Reduction program. …There were 14 other community forests across the province supported by this initiative.
Just days after Christmas in 1973 President Richard Nixon signed into law the Endangered Species Act, establishing one of the strongest conservation laws in history. …The Northern Spotted Owl has proven to be the most controversial of animal species listed. Its “threatened” designation in the late 1980s sparked legal battles between logging companies and environmental groups later named the Timber Wars. …The Northwest Forest Plan was amended in a monumental compromise between environmental groups and the timber industry in 2022 when Governor Kate Brown singed into law the Private Forest Accord. …The Forest Service has proposed additional amendments to the Northwest Forest Plan that may open up millions of acres of western lands to logging. The final environmental impact statement of that plan will be released in 2025 under the Trump administration, which has promised extensive deregulation. The Northern Spotted Owl remains listed as endangered.
Like climate change itself, conspiracy theories and misinformation are growing crises. And where they intersect with the environment, the problem seems to spread like wildfire. …Year after year, poll after poll has consistently shown a majority of Canadians believe in human-caused climate change. But across the country, Conservative politicians are fomenting weariness and skepticism about climate science to appeal to their bases and undermine their opponents — and it appears to be working. …What’s more, the same poll found the number of Canadians who believed humans were responsible for climate change declined by nine percentage points from the previous year. There is a clear political split on views regarding climate change, with Conservative voters less likely to believe in climate change than NDP or Liberal voters. …How can we extinguish the misinformation that’s torching an increasingly large share of reality?
NEWCASTLE, Australia — Communities and firefighters across Australia’s second-most populous state were preparing Thursday for potentially devastating wild fires as a heat wave fanned by erratic winds presented the worst fire conditions in several years. With temperatures in Victoria state reaching 37 degrees Celsius and with wind changes expected throughout the day, fire chiefs have issued stark warnings to rural communities to delay travel or leave their homes and seek safety at shelters. Several fires are currently burning out of control across the state and Victoria deputy premier Ben Carroll said the possibility for further fires in the coming days was likely. …Parts of neighboring South Australia and New South Wales states are also on high alert due to the heat wave and elevated fire risks. The hot, dry conditions are being compared to the Black Summer fires in 2019-20 that burned through 104 thousand square kilometers, and destroyed thousands of homes and killed 33 people.