West Fraser, North America’s top lumber producer, is taking a hit from President Trump’s latest round of tariffs on Canada. Its stock is one of the day’s worst performers among forest and building-products shares. The BC company that has sawmills and other wood-products facilities on both sides of the border is already contending with Trump’s 10% national-security tariff on lumber as well as the long-standing duties on Canadian softwood exports. The 50% tariffs Trump announced exempt softwood lumber but include plywood and specialty engineered wood products. West Fraser’s exposure should be minimal because most of its products slated for the 50% levy are sold in Canada, according to TD Cowen analysts. They estimate that just 1% of West Fraser’s aggregate sales would be exposed. And that is assuming that the tariffs stick. [to access the full story a WSJ subscription is required]