(MENAFN) The U.S. will impose anti-subsidy duties averaging 20 percent on imports of Canadian softwood lumber, increasing a long-running trade dispute between both nations.
Meanwhile, the move, which affects USD5.66bn worth of imports of the construction materials, sets a tense tone as the two countries and Mexico aim to renegotiate the 23-year old N. American Free Trade deal.
However, the Canadian currency fell to U.S. 37.75 cents; down from its North American close of U.S. 73.99 cents.
The agreement never emphasized the softwood lumber issue or Canada's closed dairy market, while Trump administration vowed to renegotiate Nafta that would cut U.S. goods deficits of USD63bn.
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