Caribbean bloc ups tax on US wood imports at Guyana’s behest

Associated Press in Charlotte Observer
November 30, 2017
Category: Business & Politics
Region: International

The Caribbean Community trade group has agreed to raise import taxes on U.S. and Canadian wood because of complaints from member state Guyana. Caribbean Community Secretariat spokesman Bernard Black says a tax on imported pine would rise from 5 percent to 40 percent in January. The new tariff would run for 24 months. Guyana sought the taxes after producers in the South American country complained about competition from cheaper imports. Guyana’s economy is heavily dependent on the timber industry, though the country hopes to shift to oil from offshore deposits.

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