MyGreat Recruitment Inc.’s Post

𝗧𝗵𝗲𝘀𝗲 𝗰𝗹𝗼𝘀𝘂𝗿𝗲𝘀 𝘄𝗶𝗹𝗹 𝗮𝗳𝗳𝗲𝗰𝘁 𝗮𝗿𝗼𝘂𝗻𝗱 𝟱𝟬𝟬 𝗲𝗺𝗽𝗹𝗼𝘆𝗲𝗲𝘀 𝗮𝗻𝗱 𝗿𝗲𝗱𝘂𝗰𝗲 𝘁𝗵𝗲𝗶𝗿 𝗕.𝗖. 𝗽𝗿𝗼𝗱𝘂𝗰𝘁𝗶𝗼𝗻 𝗯𝘆 𝟲𝟳𝟬 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 𝗯𝗼𝗮𝗿𝗱 𝗳𝗲𝗲𝘁 𝗮𝗻𝗻𝘂𝗮𝗹𝗹𝘆. 🌲🪓🪵👷♂️👷♀️ The socio-economic impacts of this will be devasting to communities, government revenues and families. How can British Columbia build a more robust and resilient economy in this important sector? Please weigh in. 🧐 👀 Following what they say is a thorough review of operating conditions, including the persistent challenge accessing economic fibre, ongoing financial losses, weak lumber markets and increased US tariffs, Canfor Corporation announced the closure of its Plateau and Fort St. John operations located in northern British Columbia. Don Kayne, President and CEO made the following statement: “Our company has proudly operated in BC for more than 85 years, supporting jobs and economic activity in communities around this province. During that time, we have always been prepared to manage through challenging times and market fluctuations, recognizing the cyclical nature of our business. However, in recent years, increasing regulatory complexity, high operating costs and the inability to reliably access economically viable timber to support our manufacturing facilities has resulted in hundreds of millions of dollars of losses in our BC operations.” “The operating challenges we face have been further exacerbated by increases in the punitive US tariffs announced on August 13th – tariffs that are expected to more than double again next year. Continuing to operate under these conditions would prolong the punishing anti-dumping duties and put additional operations at risk. As a result, we are making the incredibly difficult decision to close our operations in Vanderhoof and Fort St. John.” “We are devastated by the decline in our province’s foundational forest industry, and we recognize the impact these closures will have on our employees and their families, as well as our First Nations partners, contractors, suppliers, communities and customers. We are committed to supporting our employees and will work with our union partners on an employee transition plan, including severance. The wind down of operations is expected to be complete by the end of the year.” 🔗 https://lnkd.in/dRmr9AwX #lumber #timber #forest #tree #wood #woodwork #woodworker #carpentry #logging #woodworking #lumberyard #foredbc

**Big News: Softwood Lumber Duties Just Spiked!** 🪵📈 The US just raised import duties on softwood lumber from **8.05% to a whopping 14.54%!** That's even higher than the 13.86% predicted by the US Department of Commerce earlier this year. This sudden increase will ripple through the industry—affecting both US 🇺🇸 and Canadian 🇨🇦 producers. What does this mean for the cost of new construction? How will it impact the market on both sides of the border? https://lnkd.in/efp_BXEX #timber #sawmill #lumber #globalmarkets #tariff #wood #forestproducts #canada #usa

More Sawmill Closures in B.C., Canada Canfor, one of Canada's largest softwood lumber companies, announced earlier this month that they will close two more sawmills in British Columbia. West Fraser, another major lumber company, also closed a few mills earlier this year. Together, these mills produced about 2.5 million cubic meters of timber and employed over 850 people. The closures impact not only the workers but also many other businesses that depend on these mills, like suppliers and contractors. It's a big problem for the local communities. The main reason for the closures is the U.S. government's plan to increase tariffs on Canadian lumber from about 7% to 15%, nearly doubling the current rate. While it seems the U.S. government wants to protect its own lumber industry, it's unclear if the U.S. can make up for the lumber supply lost from these Canadian mill closures. This could also affect timber prices outside the U.S. since the U.S. relies on not just Canada, but also South America and Europe for lumber. #apptimber #SawmillClosures #Canfor #WestFraser #LumberIndustry #Tariffs #CanadaUSTrade #TimberCrisis #WoodIndustry #TradePolicy #LocalCommunities #SupplyChain #LumberPrices

How Will Rising Tariffs Impact the North American Lumber Industry? Our latest report explores the potential effects of proposed tariffs and policies on the North American softwood lumber market and the US housing industry. What’s Inside: 📊 Analysis of tariffs’ impact on lumber prices and housing affordability. 🏗️ Insights on workforce changes and their effect on construction and manufacturing. 📈 Trends in North American lumber production and consumption. Download the report today to stay informed and ahead in the forest products market! https://lnkd.in/e7Md_rp7 #Tariffs #Lumber #Softwood #ForestProducts

The outlook for the US housing market and its demand for lumber in 2025 is more uncertain than ever. Proposed US tariffs of up to 25% on Canadian imports, 10-20% on European imports, and 60-100% on Chinese imports are likely to interrupt the traditional trade of forest products. In addition, the suggested deportation of undocumented immigrants would impact the construction and manufacturing sector, where it is estimated that about 25% of the labor force is at risk of being deported. In times of uncertainty, reliable and up-to-date market information is imperative. WoodMarket Prices from ResourceWise is a unique and valuable tool for every organization that requires updates on the latest developments in global forest product markets. Established in 1988, this pricing and trade data service has subscribers in over 30 countries and covers lumber, sawlogs, pulpwood, and wood pellets. #USLumber #USHousing #WoodTariffs #LumberExports #LumberOutlook #WoodPrices

https://lnkd.in/gG6-aHfp Lumber demand and prices have reached record lows, sparking mill curtailments and permanent closures across the US and Canada.  Data from the Western Wood Products Association (WWPA) shows US lumber production in the first half of 2024 was down by 3.2% year-over-year. Yet despite the market’s challenges, #Canadian #sawmills increased their softwood lumber production in the year through June by 4.6% year-over-year and exported 3.4% more lumber to the #US.  When the North American lumber market hits a slump, US federal government decisions on Canadian lumber duties usually favor US producers. Therefore, the Department of Commerce's August ruling, which confirmed the preliminary results of its review disclosed in February, was not a surprise.   What is next for Canada Natural Resources Sector – September 2024 - https://lnkd.in/g3AZSi7N U.S. Department of Commerce Pierre Poilievre Shannon Stubbs Western Forest Products J.D. Irving, Limited Canfor West Fraser Western Wood Products Association

Canfor announces closure of sawmills in Vanderhoof and Fort St. John These are the three key items killing the BC Forest Industry. Premier Eby, Minister Ralston and Minister Mercier have it within their powers to remove these barriers. Yet, here we are again and nothing has changed. 3 Key Solutions: ▶ Scrap the Old Growth Deferral program ▶ Expediting the the harvesting permit and timber sale process ▶ Scrapping current changes to the BC Land Act The reality of this situation is that the Eby-NDP BC Government clearly has an environmentalist agenda in play. The NDP refuse to take advantage of British Columbia's wealth of natural resources and instead run government with deficit budgets and perpetual tax increases. 🌟 There's ONE very simple solution that will fix this problem. On October 19, 2024 get out and vote for the BC Conservatives! It would be in the best interest of Mr. Rustad and the BC Conservative party to work with business, labor and the BC Economy to quickly resolve the fibre shortage issues plaguing the industry. https://lnkd.in/g2VRpdgE

The southern US is poised to surpass Canada’s long-held dominance over the North American lumber industry as decades of trade restrictions take a toll. The US region is set to eclipse Canada for softwood lumber capacity for the first time since at least 1970, according to commodity pricing agency Fastmarkets. It’s a remarkable turnabout that signals how much a key Canadian resource sector has diminished due to years of US duties and other challenges including wildfires, land-use regulation and insect infestation.

The biggest loser of the Trump's 25% tariffs? Americans who want affordable housing. Canada accounts for: 🪵 83% of US lumber imports 🪙 56% of US aluminum imports A 25% tariff is going to increase building materials costs by around $5B in total for both of these imports. This is going to have additional downstream negative effects: 1️⃣ Reduced new housing starts due to cost increases 2️⃣ Job losses in US construction sector 3️⃣ Short-term slowdown in real estate development In the long-term, businesses can adjust. But in the short-term, our lumber and aluminum supply chains are so integrated that there will be no way to find replacements cheaply. I know this initial tariff may just be a bargaining ploy or some other negotiating tactic. However, the uncertainty it places on the American construction sector, especially in the Northern US, could not be beneficial to building more houses. Surprisingly, it may even help Canadian developers compete in these markets. What other surprising second-order impacts are people expecting to see? #Trump #tariffs #housing #Canada

When is this nonsense going to end? This lumber war has been going on since I graduated from grad school. Barack Obama was still president then. We are knocking on the door of a decade here of complete refusal to come to the table and work out a deal like was done for the last four lumber wars. The US's response to nearly double softwood lumber duties is just ridiculous Please note that softwood lumber is generally duty-free at MFN and certainly duty-free under USMCA. It shows that the US is unwilling to play ball and is trying to gain political points domestically rather than address a trade issue with its strongest and most essential trading partner that has already been addressed several times before in lumber wars 1-4. If I were the Canfor's, West Fraser's, Interfor's of Canada I would be looking to diversify my domestic exports elsewhere, but that is hard to do. I know the Canadian firms have acquired several US mills and smaller lumber companies, but this strategy can only go so far. FTZ usage is another option, but this just sends much needed jobs south of the border with no economy of scale or scope achieved, which might be part of the reason the US is doing this. Here is a link to Minister Mary Ng's response via Global Affairs Canada. https://lnkd.in/ejy3Bauw