Blog Archives

Business & Politics

Canada can legally challenge tariffs, but will Trump fall in line with the ruling?

By Ian Bickis
The Canadian Press in Yahoo! Finance
February 21, 2025
Category: Business & Politics
Region: Canada, United States

If President Trump imposes tariffs on Canadian goods, experts say Canada has a strong case to challenge it under the Canada-US-Mexico free trade agreement. The question, though, is how quickly any decision may come through the process and whether the US would respect any decisions from the outcome. …The free trade agreement is a nation-to-nation agreement, so there’s no one else to appeal to. America’s past performance on adhering to trade decisions has been mixed. Areas of contention include… the long-running softwood lumber dispute. …Canada could also decide to challenge this round of tariffs at the WTO, as well as through CUSMA. Based on the rules of the treaty, Canada could launch a challenge which would prompt mandatory consultations within 30 days. If there’s no resolution through that step, the next would be to establish a dispute settlement panel. …Past cases have generally run around a year to a year and a half.

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Trump threatens to drop his tariff axe on Canadian lumber

By Peter Evans
BNN Bloomberg
February 20, 2025
Category: Business & Politics
Region: Canada, United States

Another day, another tariff threat for markets to digest. This time it’s lumber getting whipsawed, as U.S. President Donald Trump says he is going to bring in tariffs on Canadian lumber imports to the U.S. soon. Speaking to reporters on Wednesday evening, Trump added lumber to the list of items he plans to slap tariffs on in the near future. …Canada would feel any such policy directly, but perhaps not as painfully as you might think. As is the case with oil, lumber is one front in the trade war where Canada can do a lot of collateral damage of its own. …While the U.S. theoretically has enough trees to meet its own needs, ramping things up both in terms of the logs and the capacity to process them would be next to impossible in the short term. Recall during the pandemic when Canadian lumber prices spiked by more than 300%, yet U.S. buyers kept buying. 

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Trump eyeing spring start for lumber tariffs; could new levy stack on current one?

The Canadian Press in CTV News
February 20, 2025
Category: Business & Politics
Region: Canada, United States

The list of potential American tariffs that could affect Canada grew Wednesday night when U.S. President Donald Trump dropped the idea of a 25% levy on lumber and forest products. …Speaking to the media onboard Air Force One, Trump said his administration was eyeing some time around April for the latest announced duty. Earlier this month, Trump paused until March 4th his initially planned 25% tariffs on all Canadian goods. …If the threatened 25% tariff is added on top of current duties already in place, the combined total on softwood exports to the United States will be closer to the 50% or 55% estimate. The U.S. last raised duties on softwood lumber from Canada in August 2024 from 8.05% to 14.54%.

In related coverage: Canadians perception of U.S. changing, as new lumber tariffs loom

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Canadian lumber producers brace for surge in US anti-dumping duty rates

By Brent Jang
The Globe and Mail
February 19, 2025
Category: Business & Politics
Region: Canada, United States

Canadian producers of softwood lumber are bracing for a decision this week from the U.S. Department of Commerce that could mean a surge in anti-dumping duty rates, compounding the industry’s worries over President Donald Trump’s threats for sweeping tariffs on all imports from Canada. Most Canadian producers are currently paying 7.66% in anti-dumping duties, but that could jump to 20 per cent, trade experts say. The Commerce Department’s decision, slated for Thursday, will be preliminary, with an effective date in August. …Analysts are [also] predicting that there will be higher countervailing duty rates, with the Commerce Department scheduled to issue a preliminary ruling in May. Forestry analyst Russ Taylor forecast that countervailing duties could rise to about 10%. Most Canadian softwood producers are paying countervailing and anti-dumping duties that currently total 14.4 per cent. …The Commerce Department’s administrative review is based on softwood markets in 2023, when prices were low. [to access the full story, a Globe and Mail subscription is required]

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Trump’s reciprocal tariffs will overturn decades of trade policy

By Paul Wiseman and Christopher Rugaber
The Associated Press
February 14, 2025
Category: Business & Politics
Region: Canada, United States, International

WASHINGTON — President Trump is taking a blowtorch to the rules that have governed world trade for decades. The “reciprocal’’ tariffs that he announced Thursday are likely to create chaos for global businesses and conflict with America’s allies and adversaries alike. Since the 1960s, tariffs — or import taxes — have emerged from negotiations between dozens of countries. Trump wants to seize the process. “Obviously, it disrupts the way that things have been done for a very long time,’’ said Richard Mojica, a trade attorney at Miller & Chevalier. “Trump is throwing that out the window … Clearly this is ripping up trade. There are going to have to be adjustments all over the place.’’ Pointing to America’s massive and persistent trade deficits – not since 1975 has the U.S. sold the rest of the world more than it’s bought — Trump charges that the playing field is tilted against U.S. companies. …Economists don’t share Trump’s enthusiasm for tariffs.

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B.C. forest minister projects U.S. tariffs, duties on softwood lumber could reach 55%

By Marcy Nicholson
The Canadian Press in CTV News
February 14, 2025
Category: Business & Politics
Region: Canada, United States

Canadian softwood lumber exported to the United States could soon face additional tariffs and duties of up to 55%, BC’s forests minister said. The “Trump tariff and increased duties” are estimated to reach 50% to 55% compared with the current 14% duty on Canadian softwood lumber, Ravi Parmar said. …Parmar travelled to the US this week on a trade mission aimed at showing how the tariffs will hurt consumers. He met with the California Building Industry Association as well as politicians and said that any tariff will increase building costs, particularly after more than 16,000 homes destroyed by recent wildfires. Association CEO Dan Dunmoyer said in a joint statement with Parmar that they’re working together to ensure beneficial trade policies are understood by policy-makers, and further levies will only increase building costs in the US. “I’m going to be engaging with the insurance industry as well,” Parmar told reporters.

In related coverage: BC Government Press Release: Minister’s, California Building Industry Association’s statement on softwood duties, tariffs

Island Social Trends: BC Forests Minister Ravi Parmar building softwood lumber trade ties with California

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US paper industry asks Trump to seek lighter EU deforestation rules

By Richa Naidu and Kate Abnett
Reuters
February 18, 2025
Category: Business & Politics
Region: Canada, United States

LONDON/BRUSSELS — The US paper and pulp industry is lobbying the Trump administration to ask the EU to declare the US deforestation-free, a step that could make it easier for exporters to meet the bloc’s new environmental rules. From December, the European Union’s anti-deforestation policy will ban imports of commodities linked to forest destruction. Brussels already delayed the policy’s launch by a year. …”A delay does not solve our concerns with the regulation’s complex requirements and significant technical barriers,” said Heidi Brock, CEO of the American Forest and Paper Association (AF&PA). …The law does not contain a category of countries deemed to be deforestation-free – despite EU lawmakers attempting unsuccessfully to add a new “no risk” category of countries which would face even lighter rules. Any changes to the EU law would require a legal proposal from the Commission, and approval from EU lawmakers and member states.

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Sea to Sky builder FraserWood Industries faces economic uncertainty

By Liz McDonald
Whistler Pique Magazine
February 20, 2025
Category: Business & Politics
Region: Canada, Canada West

Sea to Sky Gondola in SquamishSQUAMISH, BC — Peter Dickson has owned FraserWood Industries, a Squamish-based timber manufacturer, since 1998. He has grown his business, earning contracts near and far, including the Sea to Sky Gondola service building and log cabins at Walt Disney World. One third of his business is exported to the US. …“The biggest problem is our American customers will be reluctant to sign moving forward with the uncertainty.” …David Girard sits on the government relations committee for the Sea to Sky Canadian Home Builders Association, and he said the tariffs would have an outsized impact on consumers and demand for Canadian products, and cause reduced employment. According to a recent survey by KPMG, 48% of Canadian companies contacted said they would invest or produce in the U.S. to retain American customers and reduce costs. But for FraserWood, that’s not an option.

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Dix gives Williams Lake hope of saving Atlantic Power plant

By Nelson Bennett
Business in Vancouver
February 18, 2025
Category: Business & Politics
Region: Canada, Canada West

WILLIAMS LAKE, BC — The City of Williams Lake has cancelled a lobbying junket to Victoria on the news Adrian Dix, minister of Energy, plans to meet with BC Hydro to discuss the imminent shut-down of the Atlantic Power station. The plant, which generates electricity through the burning of wood waste, is Williams Lake’s biggest industrial taxpayer. The company that owns it plans to shut down soon, unless the province can assure it better power rates and reliable fibre supply. The city has been lobbying the provincial government to prevent the power plant from shutting down, and had planned to converge on the BC Legislature tomorrow for the first day of the new BC legislative session. …The Atlantic Power plant is an independent power producers with a power purchase agreement with BC Hydro. The plant is owned by I Squared Capital, an American private equity investment firm.

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Buying power from Corner Brook paper mill isn’t a Hydro handout, mayor says

By Alex Kennedy
CBC News
February 19, 2025
Category: Business & Politics
Region: Canada, Canada East

Corner Brook Mayor Jim Parsons says Newfoundland and Labrador Hydro isn’t providing a handout by buying Corner Brook Pulp and Paper’s electricity from Deer Lake Power. Hydro is buying power at 27.5 cents per kilowatt hour — nearly double the average domestic electricity rate — and it doesn’t need it to supply customers. ..But Parsons said they’re a very stable backup when they have problems elsewhere,” Parsons said. “Yes the rate is high, but it’s what you would pay for this kind of thing. So I think that yes, it is important that our government supports the mill in various ways, but I think it’s a mischaracterization to say this is a handout.” …”The paper industry is changing, and the mill needs change to remain current. And this is one of the ways in which they can remain current,” Goulding said. …Kruger employs 425 people with a deep trickle-down effect.

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Newfoundland Hydro propping up Corner Brook paper mill by buying its overpriced — and unneeded — electricity

By Terry Roberts
CBC News
February 17, 2025
Category: Business & Politics
Region: Canada, Canada East

CORNER BROOK — The provincial government, through its Crown-owned utility company, is helping prop up the struggling newsprint mill in Newfoundland and Labrador by buying unnecessary electricity from Corner Brook Pulp and Paper at an inflated rate. It’s power that Newfoundland and Labrador Hydro does not need to supply customers, according to the utility company. …N.L. Hydro has confirmed that it is buying electricity from Deer Lake Power, which energizes the paper-making machines at the Corner Brook mill, for 27.5 cents per kilowatt hour. That’s nearly twice the average domestic electricity rate — 15.3 cents, when the basic customer charge is included — on the island of Newfoundland. …The power purchase agreement is just the latest attempt to save the Corner Brook mill by both Liberal and Progressive Conservative governments. …Kruger has described Corner Brook Pulp and Paper as a “vital force” in western Newfoundland’s economy.

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Kruger secures Quebec support, invests $6.5 million in Wayagamack mill

By Kruger Inc.
Cision Newswire
February 14, 2025
Category: Business & Politics
Region: Canada, Canada East

TROIS-RIVIÈRES, Quebec — Kruger announced a $6.5-million investment to implement an innovation project aimed at diversifying production at its Wayagamack Mill in Trois-Rivières. The initiative will enable the production of innovative label paper grades, reinforcing the Wayagamack Mill’s leadership in Québec and North America. …The project was unveiled in the presence of Jean Boulet, Québec Minister of Labour and Minister Responsible for the Mauricie Region, the Abitibi-Témiscamingue Region and the Nord-du-Québec Region… and Sylvain Bricault, General Manager of the Kruger Wayagamack Mill. …The initiative was made possible by a $2.5 million funding from the Government of Québec under the Programme Innovation Bois of the ministère des Ressources naturelles et des Forêts.

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US Lumber Coalition Letter to President Trump Highlights Success of Trade Law Enforcement

By US Lumber Coalition
PR Newswire
February 19, 2025
Category: Business & Politics
Region: United States

WASHINGTON — The U.S. Lumber Coalition in a letter to President Trump highlights the success of the enforcement of the U.S. trade laws that has added eight billion board feet of production capacity and produced an additional 30 billion board feet of softwood lumber since 2016. …”Unfortunately, even with the enforcement of the U.S. trade laws, Canada continues to engage in massive dumping of their excess lumber production into the U.S. market in an attempt to desperately hold on to their market share at the expense of American workers and their families,” stated Zoltan van Heyningen. “We anticipate that the U.S. Department of Commerce will soon confirm this egregious dumping behavior.” The letter concludes that continued strong enforcement of the U.S. trade laws… is exactly what must happen to keep expanding U.S. lumber manufacturing and availability to build more American homes with American lumber.

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Explosion at Weyerhaeuser plant rocks Columbia Falls

By Chris Peterson
The Daily Inter Lake
February 19, 2025
Category: Business & Politics
Region: United States, US West

COLUMBIA FALLS, Montana — The Columbia Falls Weyerhaeuser MDF plant was rocked by an explosion and fire Wednesday. The explosion may have been caused by an electrical arc in the power distribution center, which runs both lines of the plant, Columbia Falls Fire Chief Karl Weeks said. No one was injured in the blast, which blew walls out of the building and garage doors off their hinges. The electrical surge at the time was so great that Flathead Electric Co-op noticed the power draw on the grid, Weeks said. …The production lines were not damaged. The plant has two lines and is capable of producing 265 million square feet of 3/4-inch MDF annually. The plant has about 200 employees. …Weyerhaeuser spokesman Matt Peterson said, “We will resume normal operations when it is safe to do so.”

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Sylvamo to Invest $145 Million in South Carolina Facilities

Sylbamo
February 13, 2025
Category: Business & Politics
Region: United States, US East

EASTOVER, South Carolina – Sylvamo announces major investments at its two South Carolina facilities. The company plans to invest approximately $145 million to reduce costs and enhance the capabilities at its mill in Eastover, South Carolina. The investments come on the heels of the mill’s 40th anniversary. Sylvamo will invest approximately $100 million to speed up one of its paper machines by the end of 2026, modernizing it. The investment will enable the machine to produce approximately 60,000 additional short tons of uncoated freesheet annually. The company will also invest roughly $45 million for a new replacement sheeter at its Sumter, South Carolina, sheeting plant. The state-of-the-art cutsize sheeter will lower costs and add flexibility to service customers when it’s online by late 2026.

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Finance & Economics

Tariff impact on forest products will vary and be wide ranging

By Kevin Mason, Managing Director
ERA Forest Products Research
February 20, 2025
Category: Finance & Economics
Region: Canada, United States

If Canada is hit with 25% tariffs… the trade impacts for the forest products sector will be wide ranging. …Lumber is the most talked about commodity with respect to tariffs, largely due to the size of the market but also the fact that tariffs would be in addition to duties which are already being paid and are set to rise come August. The US can’t supply its own lumber demand and will have to continue to import Canadian lumber. Prices will rise. …The US is even more reliant on OSB from Canada. …In softwood, ~70% of demand is met by imports and in hardwood the proportion is even higher, at 89%. Canada is the largest softwood pulp supplier to the US, representing 74% of imports; a 25% tariff on Canadian goods would inevitably result in higher costs for US customers that produce paper, packaging and tissue. There are no easy near-term substitution options.

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BC economies ‘less exposed’ to potential US tariffs

By Courtney Dickson
CBC News
February 20, 2025
Category: Finance & Economics
Region: Canada

BC cities, in general, would be among the least vulnerable in Canada if U.S. President Donald Trump follows through on tariff threats, according to new data from the Canadian Chamber of Commerce. That isn’t to say that British Columbia wouldn’t suffer: the chamber’s chief economist, Stephen Tapp, says those tariffs would be recessionary for the whole country. …The chamber’s Business Data Lab looked at Statistics Canada information from 41 cities. …Kamloops ranked 40th out of 41 cities, would be the second-most resilient in the event the U.S. does impose tariffs on Canadian goods, according to the chamber’s calculations. New report says Sudbury would be most resilient city in Canada in the face of U.S. tariffs. …Nanaimo is not far behind Kamloops. Saint John tops list of Canadian cities with most to lose in U.S. tariff war. Calgary is Canada’s second most vulnerable city.

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Mercer International reports Q4, 2024 net income of $16.7 million

By Mercer International Inc.
GlobeNewswire
February 20, 2025
Category: Finance & Economics
Region: Canada, International

NEW YORK — Mercer International reported fourth quarter 2024 net income of $16.7 million compared to a net loss of $87.2 million in the fourth quarter of 2023 and a net loss of $17.6 million in the third quarter of 2024. Q4 revenues were $488 million, down from $502 million in Q3, 2024 but up from $470 million in Q4, 2023. Mr. Juan Carlos Bueno, CEO, stated: “In the fourth quarter of 2024, softwood pulp prices remained strong, decreasing slightly from recent record prices.” …Hardwood pulp prices in China and North America decreased in the fourth quarter of 2024 as the market absorbed capacity increases from earlier in the year. …Lumber sales realizations increased, driven by modestly higher prices in the U.S. market, while in Europe, prices remained stable. 

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Lumber Futures Surge Amid Supply and Tariff Woes

Markets.com
February 19, 2025
Category: Finance & Economics
Region: Canada, United States

Lumber futures have recently surged past $610 per thousand board feet, reaching a near three-month high as market conditions tighten. A combination of mill closures, reduced North American production capacity, and tariff concerns has led to increasing volatility in the lumber market. Investors and traders are closely watching these developments, as the outlook for lumber futures remains uncertain amid ongoing supply and trade disruptions. …One of the primary drivers behind the latest rally in lumber futures is the ongoing reduction in North American production capacity. …Adding to the supply concerns is the looming increase in U.S. tariffs on Canadian softwood lumber. For traders, this means increased volatility in lumber futures as market participants react to policy changes. Higher tariffs could discourage Canadian exports, forcing buyers to seek alternative sources or absorb the additional costs, further driving up lumber futures prices.

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Canadian housing starts rise 3% in January

Canadian Mortgage and Housing Corporation
February 17, 2025
Category: Finance & Economics
Region: Canada

OTTAWA — The six-month trend in housing starts declined 2.5% in January to 236,892 units, according to Canada Mortgage and Housing Corporation (CMHC). …The total monthly SAAR of housing starts for all areas in Canada increased 3% in January (239,739 units) compared to December (232,492 units). Actual housing starts were up 7% year-over-year in centres with a population of 10,000 or greater, with 15,930 units recorded in January 2025, compared to 14,883 in January 2024. …“Both the monthly SAAR and actual housing starts increased in Canada’s urban centres in January. This was primarily driven by an 8% increase in multi-unit starts, particularly purpose-built rentals concentrated in Quebec and British Columbia. While these increases show early signs of progress to begin the year, foreign trade risks add significant uncertainty for housing construction going forward,” said Tania Bourassa-Ochoa, CMHC’s Deputy Chief Economist.

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California Building Industry Association says looming tariffs on BC lumber “ill-timed”

By Brendan Pawliw
By Prince George Now
February 18, 2025
Category: Finance & Economics
Region: Canada, Canada West, United States

California home builders say they have very little choice but to continue buying Canadian softwood lumber from places like British Columbia, even if US President Donald Trump issues a 25% penalty on imports next month. The state is in the midst of its rebuilding efforts from the Pacific Palisades wildfires that ravaged the Los Angeles area. …Dan Dunmoyer, who is the president of the California Building Industry Association said the rebuild will become a lot more costly. …“The price of lumber is already starting to go up some even without the tariffs in place out of uncertainty, which again is a reason not to move quickly on tariffs. …“We are very desirous to rebuild as quickly as possible and at the lowest cost possible. The timing of tariffs or additional costs to softwood lumber coming from Canada is very ill-timed.”

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Goodfellow reports Q4, 2024 net earnings of $2.4 million

By Goodfellow Inc.
Globe Newswire
February 19, 2025
Category: Finance & Economics
Region: Canada, Canada East

DELSON, Quebec — Goodfellow announced its financial results. For the fourth quarter ended November 30, 2024, the Company reported net earnings of $2.4 million or $0.29 per share compared to net earnings of $2.1 million or $0.25 per share a year ago. Consolidated sales for the three months ended November 30, 2024 were $124.2 million compared to $125.4 million last year. For the fiscal year ended November 30, 2024, the Company reported net earnings of $13.4 million or $1.58 per share compared to net earnings of $14.7 million or $1.72 per share a year ago. Consolidated sales for the fiscal year ended November 30, 2024 were $509.5 million compared to $512.8 million last year.

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Cascades reports Q4, 2024 net loss of $13 million

By Cascades Inc.
Cision Newswire
February 20, 2025
Category: Finance & Economics
Region: Canada, Canada East

KINGSEY FALLS, Quebec — Cascades reported its unaudited financial results for the three-month period and fiscal year ended December 31, 2024. Q4 2024 Highlights include: Sales of $1,211 million (compared with $1,201 million in Q3 2024 and $1,138 million in Q4 2023); net loss of $13 million (compared to earnings of $1 million in Q3, 2023 and net loss of $57 million in Q4, 202). …On an adjusted basis, the Corporation posted net earnings of $25 million in the fourth quarter of 2024, compared to net earnings of $5 million in the same period of 2023. On an annual basis, Cascades reported full year 2024 sales of $4,701 million (compared with $4,638 million in 2023), Operating income of $95 million (compared with $40 million in 2023); Net loss per common share of ($0.31) (compared with ($0.76) in 2023).

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2025 Lumber Markets Outlook

By Paul Jannke, principal
Forest Economic Advisors in CFI
February 18, 2025
Category: Finance & Economics
Region: United States

We expect housing starts to be 1.347 million units in 2024, a 5.3 per cent decline from 2023, their lowest level since 2020. With mortgage rates remaining elevated in 2025, we do not expect much relief for the year. Our forecast calls for housing starts to edge only slightly higher to 1.38 million units for the year. We do expect mortgage rates will continue to trend lower through 2025 and into 2026. This, combined with the strong fundamentals underlying softwood lumber’s main end-use markets, as well as the historically low inventories of homes for sale, will help push starts up to 1.501 million in 2026. The declines in residential-improvement expenditures next year will mostly offset growth in housing starts, with North American consumption forecast to increase just 0.7 per cent for the year. We expect North American consumption growth to increase to 4.8 per cent in 2026 as the recovery in the U.S. economy and end-use markets builds momentum. 

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US single-family housing starts decrease 8.4% in January

By Robert Dietz, Chief Economist
NAHB Eye on Housing
February 19, 2025
Category: Finance & Economics
Region: United States

Constrained housing affordability conditions due to ongoing, elevated interest rates led to a reduction in single-family production to start the new year. Overall housing starts decreased 9.8% in January to a seasonally adjusted annual rate of 1.37 million units. …Within this overall number, single-family starts decreased 8.4% to a 993,000 seasonally adjusted annual rate; the January pace was 1.8% lower than a year ago. The multifamily sector, which includes apartment buildings and condos, decreased 13.5% to an annualized 373,000 pace. …High construction costs, elevated mortgage rates and challenging housing affordability conditions are causing builders to approach the market with caution. There are competing upside and downside risks, including discussed tariffs and regulatory reform. …Overall permits increased 0.1% to a 1.48 million unit annualized rate in January. Single-family permits were at a 996,000 annual unit rate, remaining unchanged compared to the previous month. Multifamily permits increased 0.2% to an annualized 487,000 pace.

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Builder Confidence Falls on Tariff and Housing Cost Concerns

By Robert Dietz, Chief Economist
NAHB Eye on Housing
February 18, 2025
Category: Finance & Economics
Region: United States

Builder sentiment fell sharply in February over concerns on tariffs, elevated mortgage rates and high housing costs. Builder confidence in the market for newly built single-family homes was 42 in February, down five points from January and the lowest level in five months. …While builders hold out hope for pro-development policies, particularly for regulatory reform, policy uncertainty and cost factors created a reset for 2025 expectations. Uncertainty on the tariff front helped push builders’ expectations for future sales volume down to the lowest level since December 2023. With 32% of appliances and 30% of softwood lumber coming from international trade, uncertainty over the scale and scope of tariffs has builders further concerned about costs. …The HMI index gauging current sales conditions fell four points to 46, the component measuring sales expectations in the next six months plunged 13 points to 46, and the gauge charting traffic of prospective buyers posted a three-point decline to 29.

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US Single-Family Permits End 2024 with Strong Momentum

By Danushka Nanayakkara-Skillington
NAHB Eye on Housing
February 17, 2025
Category: Finance & Economics
Region: United States

Over 2024, the total number of single-family permits issued year-to-date (YTD) nationwide reached 981,834. On a year-over-year (YoY) basis, this is an increase of 8.0% over the 2023 level of 909,227. Year-to-date ending in December, single-family permits were up in all four regions. The range of permit increases spanned 11.1% in the Midwest to 6.2% in the South. The West was up by 10.9% and the Northeast was up by 9.3% in single-family permits during this time. For multifamily permits, three out of the four regions posted declines. The Northeast, driven by New York City’s MSA, was the only region to post an increase and was up by 38.5%. Meanwhile, the West posted a decline of 26.9%, the South declined by 19.5%, and the Midwest declined by 1.1%.

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Boise Cascade reports Q4, 2024 net income of $69 million

By Boise Cascade Company
Business Wire
February 20, 2025
Category: Finance & Economics
Region: United States, US West

BOISE, Idaho — Boise Cascade reported fourth quarter net income of $68.9 million on sales of $1.6 billion. For the full year 2024, Boise Cascade reported net income of $376.4 million on sales of $6.7 billion. …Wood Products’ sales, including sales to Building Materials Distribution (BMD), decreased $30.0 million, or 7%, to $419.7 million for the three months ended December 31, 2024, from $449.7 million for the three months ended December 31, 2023. The decrease in sales was driven by lower sales prices for LVL and I-joists and plywood, as well as lower I-joist sales volumes. These decreases were offset partially by higher LVL and plywood sales volumes. 

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LP Building Solutions reports Q4, 2024 net income of $63 million

LP Building Solutions
February 19, 2025
Category: Finance & Economics
Region: United States, US East

NASHVILLE, Tennessee — Louisiana-Pacific, a manufacturer of building products, reported its financial results for the fourth quarter and year ended December 31, 2024. Net sales for the fourth quarter of 2024 increased year-over-year by $22 million (or 3%) to $681 million. Siding revenue increased by $29 million(or 9%) to $362 million, due to 3% higher volumes and 6% higher prices. OSB net sales decreased by $5 million (or 2%) to $267 million, driven by 7% lower prices partially offset by 6% higher volumes. Net income increased year-over-year by $4 million to $63 million. …Net sales for 2024 increased year-over-year by $360 million (or 14%) to $2.9 billion. …Net income increased year-over-year by $243 million (or 137%) to $420 million. The increase primarily reflects a $210 million increase in Adjusted EBITDA.

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BlueLinx reports Q4, 2024 net income of $5.3 million

By Bluelinx Holdings Inc.
Business Wire
February 18, 2025
Category: Finance & Economics
Region: United States, US East

ATLANTA — BlueLinx, a U.S. wholesale distributor of building products, reported financial results for the three months and twelve months ended December 28, 2024. …In the fourth quarter of 2024, net sales were $711 million, a decrease of $1.9 million when compared to the fourth quarter of 2023. Gross profit was $113 million, a decrease of $5.1 million, or 4.3%, year-over-year, and gross margin was 15.9%. …Net income for the current quarter was $5.3 million versus a net loss of $18.1 million in the prior year period. Adjusted EBITDA was $21.5 million, or 3.0% of net sales, compared to $36.5 million, or 5.1% of net sales in the prior period. …For the fiscal year ended December 28, 2024, net sales were $3.0 billion, a decrease of $183.8 million, or 5.9% year-over-year. …Net income was $53.1 million versus $48.5 million in the prior year.

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Vietnam’s wood industry concerned about Trump tax policy risks

By Lan Do
The Investor, Vafie Magazine
February 22, 2025
Category: Finance & Economics
Region: International

HO CHI MINH, Vietnam — One of the major concerns of Vietnam’s wood industry is the reaction of the U.S. market to the Trump administration’s possible tax policy after a year of strong growth, said Nguyen Chanh Phuong, of the Handicraft and Wood Industry Association of Ho Chi Minh City. …In 2024, the wood industry achieved impressive growth with sales of $16.3 billion, an increase of nearly 21% compared to 2023. …The US market accounted for about 55% of total export turnover, while Europe reached about $1.2 billion, accounting for 7.3%. …Since Trump became President of the U.S. for the second time, the US has not imposed tariffs on any Vietnamese wood products. However, President Trump said he is considering a plan to expand the scope of tariffs on lumber and forest products. The tax rate he is considering is 25%.

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Japan’s Timber Import Trends Show Changes

Global Wood Markets in Forestry.com
February 24, 2025
Category: Finance & Economics
Region: International

Japan’s timber industry is seeing notable changes, with predictions of a drop in log imports and varying trends in lumber imports. These shifts are influenced by economic factors, environmental concerns, and policy decisions affecting how Japan uses timber. The Japan Lumber Importers Association has shared its predictions for wood imports, expecting a 13% decrease in log imports for 2024. …While log imports are expected to decline, the situation with lumber imports is more complex. In 2024, lumber imports are projected to increase by 17.2%. However, in the first half of 2025, a 12.5% decrease is expected compared to the same period the previous year. Several factors influence these mixed trends… Japan’s housing starts decreased by 4.6% year-over-year in 2023, with owner-occupied housing falling by 11.4%. These changes directly impact the demand for lumber, influencing import volumes.

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Wood, Paper & Green Building

British Columbia Institute of Technology begins $48 million Renewal of Burnaby Campus

By Ben Hill
BCIT News
February 14, 2025
Category: Wood, Paper & Green Building
Region: Canada, Canada West

The British Columbia Institute of Technology (BCIT) is beginning a major revitalization project on the south side of its Burnaby Campus. …With a $48 million investment from the Province, this phase of the project encompasses the first three of five separate zones of the project with construction set to begin in early 2026 and to run until 2029. …Above ground, the campus will see more open spaces, a restored urban greenway, a campus walkway connecting the new Tall Timber Student Housing building to the core of campus, and upgraded wayfinding, bicycle networks, and accessibility throughout public areas. Additionally, the project will support the continued daylighting of Guichon Creek – creating a natural ecological habitat suitable for salmon. …Students, particularly those in Civil Engineering, Ecological Restoration, and Construction Management, will gain hands-on experience through collaboration with industry professionals.

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Trump administration drops work on stronger building codes for disasters

By Lauren Sommer
NPR News
February 20, 2025
Category: Wood, Paper & Green Building
Region: United States

For the past 25 years, the Federal Emergency Management Agency (FEMA) has helped develop building codes, the construction standards that help houses survive hurricanes, wildfires and earthquakes. Now, the Trump Administration has ordered that to stop. …FEMA is dropping out of the latest effort to improve building codes. …The recommendations FEMA submitted were filed with the International Code Council, an independent association that develops building codes used by states and local governments. The proposals FEMA is retracting its involvement from focus on helping homes survive strong winds, seismic shaking and rising floodwaters. …The ICC convenes experts and stakeholders in the building industry to review and improve building codes every three years, and is developing a new set of standards now. After they’re approved, many local and state governments across the country adopt the codes, which set the mandatory construction rules in their communities.

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Cement industry undergoing ‘unprecedented transformation,’ says World Cement Association CEO

By Grant Cameron
The Daily Commercial News
February 14, 2025
Category: Wood, Paper & Green Building
Region: United States, International

The cement industry is at a crossroads as decarbonization is expected to take its toll, resulting in a significant decline in demand, according to a paper by the World Cement Association (WCA). “The cement industry is undergoing an unprecedented transformation,” explains WCA CEO Ian Riley. “As we move towards a decarbonized future, understanding the true demand for cement is critical to ensuring that policies, technologies and investments align with reality.” The white paper examines disruptive factors such as alternative materials. …The report challenges prevailing forecasts and projects demand for cement and clinker will dip, mainly due to the rise of timber, greater use of admixtures, the move towards decarbonization of the industry as well as design practices that will reduce the concrete used. ..According to the paper, timber has replaced concrete and steel in many highrise buildings but limitations on the supply of timber are expected to curb its growth.

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California rules will require more fire resistant homes in Palisades, Altadena

By Jeff Collins
The Pasadena Star-News
February 23, 2025
Category: Wood, Paper & Green Building
Region: United States, US West

LOS ANGELES — A blizzard engulfed Michael Kovac’s house as the Palisades fire approached. …As thousands of residents in Altadena and the Pacific Palisades prepare to rebuild homes demolished in last month’s firestorms, Kovac’s house could serve as an example. Constructing a fire-hardened home is not only within reach for most fire victims, experts say, it’s in the building code. Unless Gov. Newsom suspends fire-safety rules, all new homes in areas designated as very-high fire risks zones or abutting to wilderness must be built to one of the nation’s most stringent set of fire-resistant standards, known as the WUI code. Adopted in 2005 and gradually strengthened over the past 17 years, the wildland-urban interface building code requires new homes to include flame-repellent designs and materials. While studies show fire-hardening improves the odds of a home’s survival, some fire victims are wondering how much extra it will cost.

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Forestry

The federal government must revisit its approval of glyphosate, court says

By Nick Murray
The Canadian Press in CTV News
February 20, 2025
Category: Forestry
Region: Canada

OTTAWA — The federal government has been ordered to reassess its 2022 approval of a popular weed-killer after a Federal Court judge ruled ­this week the original approval was unreasonable. Justice Russell Zinn gave Health Canada six months to reassess the health risks of glyphosate after the agency failed to show it considered new scientific evidence identifying new or elevated risks associated with the herbicide when it renewed the registration for a product containing it. …Monsanto, has faced multiple lawsuits in the US with multi-million-dollar awards to the plaintiffs, while others have been overturned. …The US Environmental Protection Agency reported in 2020 there were no risks to human health from current uses of the herbicide, but its assessment was overturned. …While the Federal Court’s ruling didn’t speak to the health risks of glyphosate, Zinn said Health Canada failed to show any evidence that it evaluated the new studies.

Additional coverage in the Delta Optimist, by Stefan Labbé: Judge rejects Health Canada’s ‘trust us’ approach in glyphosate pesticide approval

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Old-growth logging was ‘goal’ of Interfor: BC Forest Appeals Commission decision

By Brenna Owen
The Canadian Press in the Financial Post
February 19, 2025
Category: Forestry
Region: Canada, Canada West

BC-based Interfor reaped an estimated $1.8 million in net profit from logging in old-growth areas that were meant to be preserved, a decision by the province’s Forest Appeals Commission says. The commission upheld the finding that Interfor committed eight contraventions of the Forest and Range Practices Act with the logging between 2012 and 2016 in the Arrow Lakes area of southeastern BC. …Interfor’s forest stewardship plan for the area stipulated that logging should not take place in old-growth management areas except in certain circumstances. It said Interfor’s site plans didn’t meet those requirements. Instead, it said the configuration of the cut blocks “indicates that the harvesting of (old-growth management areas) was a goal for Interfor, rather than confining such harvesting to exceptional circumstances,” as required by the stewardship plan. …Interfor acknowledged that its operations had involved logging old-growth management areas. But the company claimed it had complied with its forest stewardship plan.

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Tree diversity is the key to forest survival

By Zack Metcalfe
The National Observer
February 21, 2025
Category: Forestry
Region: Canada, Canada East

NEW BRUNSWICK — Anthony Taylor is an associate professor with the University of New Brunswick specializing in the relationship between forestry and climate. He demonstrated the link between tree diversity and carbon sequestration in a 2023 paper published in the journal Nature, comparing these two metrics on 406 sample plots across the country. …Taylor has been expanding his research into the domains of drought and wildfires, both of which will become more common in coming decades. Here too, he’s found the diversity of trees in a given forest is a good indicator of how well they’ll weather a warming world, not only absorbing carbon, but holding onto it. …Maintaining a natural blend of coniferous and deciduous species in Maritime forests, therefore, would mean sequestering more carbon and suppressing more wildfires, but as Taylor outlined, regional forest management practices have been pushing in the opposite direction for decades.

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Agriculture Commissioner Simpson leads push to exempt US forests from EU deforestation plan

By Michelle Vecerina
Florida’s Voice News
February 18, 2025
Category: Forestry
Region: United States, International

TALLAHASSEE, Florida – Florida Agriculture Commissioner Wilton Simpson released a letter urging U.S. senators and members of the Trump administration to exempt American forests from effects of the European Union’s proposed deforestation regulation. The letter was signed by 18 state agriculture commissioners across the U.S. According to Simpson’s office, the rule, if enacted as currently written, could severely impact the U.S. timber industry, which is a global leader in forest management and sustainability. …The 18 commissioners requested the country’s leaders address the potential “negative implications” the European Union Deforestation Regulation rule will place on the country’s agricultural forestry industries. The European Union’s deforestation regulation, set to take effect on Dec. 30, aims to ensure that the products it imports do not contribute to global deforestation or forest degradation. …The commissioners urged the U.S. senators and members of the Trump administration to express opposition to the rule.

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