Forestry firms fall on higher duties against Canada

Forestry products firms slip as U.S. is poised to double duties on softwood lumber

U.S. Dept of Commerce has made preliminary decision to more than double countervailing duties on imports of Canadian softwood lumber from 6.74% to 14.38%

Combined with dept's preliminary decision earlier this year to increase anti-dumping duties to 20.07%. This could bring total duty rate to 34.45% this fall

Timber REITS Potlatchdeltic Corp PCH.O, Weyerhaeuser WY.N, and Rayonier RYN.N down 3% to 4.6%

Canadian forestry firms Conifex CFF.TO, Canfor Corp CFP.TO, Interfor IFP.TO and West Fraser WFG.TO slide 6.6% to 3.9%

BC Lumber Trade Council called the duties " unjustified and harmful", adding that if implemented, these rates will hurt workers and communities on both sides of the border and drive-up lumber prices for American consumers