Catalyst among newsprint producers slapped with U.S. countervailing duties

Catalyst among newsprint producers slapped with U.S. countervailing duties

Punitive duties on newsprint sales to the USA pose a threat to B.C.'s biggest papermaker, though its mills have other export options to mitigate the impact. The duty against Kruger is 9.93% and the preliminary penalty against White Birch is 0.65%. Those duties could then change in a final ruling, and the company involved would have to prove that it was harmed by the subsidies given to Canadian producers.

Catalyst Paper, with mills in Crofton and Port Alberni, hit with a 6.09 per cent countervailing duty from the United States.

On Aug. 9, 2017, North Pacific Paper Co. brought a petition before the Commerce Department's International Trade Administration (ITA) alleging paper manufactured in Canada is priced in a way that cuts into its business.

Anneberg said the company estimates the duties would increase the cost to produce the average printed newspaper by less than 5 cents per copy.

Mr. Boyle criticized Norpac, owned by hedge fund One Rock Capital Partners LLC of NY, for minimizing the ripple effects of the duties. "This is an effort to perversely manipulate trade laws for short-term gain, putting in jeopardy the communication lifeline of so many small and rural communities in the United States".

Kursman said Norpac was alone in its challenge because production margins are "razor thin".

Foreign Affairs Minister Chrystia Freeland and Natural Resources Minister Jim Carr called the duty rates "unjustified" in a joint statement.

Given its "outlier status", the letter said, "it appears that One Rock Capital Partners may be using the petitions as a means of increasing the short-term value of this one mill, without any regard for the dramatic negative implications for USA newspapers in thousands of small cities and towns".

Rise against proposed newsprint taxes
Catalyst Paper caught in US trade dispute over newsprint

"We will continue to work with our forest industry, provinces and territories, and communities across Canada to defend this vital sector against unfair and unwarranted USA trade measures and practices".

Canada has launched a wide-ranging complaint against the United States over its trade practices.

But other Canadian exporters have also become the target of countervailing and anti-dumping duties, and the Canadian government announced today that it is now taking it fight against American duties to the World Trade Organization in a kind of omnibus complaint over American duties on both Canadian products, as well as products in other countries.

More than 1,100 small and mid-sized newspapers - members of the alliance - signed a letter in December to warn Commerce Secretary Wilbur Ross that punitive duties on Canadian newsprint would have a devastating impact.

The Forest Products Association of Canada (FPAC) said the duties could be in effect as early as next week.

"This is not really based on sound objective methods", said Neuheimer.

In response to the December 4 letter, Norpac sent another letter to Commerce last month accusing the News Media Alliance of supporting Canadian paper producers at the expense of American jobs and industry.

"Forestry is as important to the Canadian economy as energy", said Renaud Gagné, Unifor Quebec Director. "Maybe we are going to experience plant shutdowns for a few weeks".

More news: Chinese rescuers find two bodies on burning oil tanker

Related Articles

  • Who Is Silling A. Man? Woman Found Dead In Georgia Mall Identified

    Who Is Silling A. Man? Woman Found Dead In Georgia Mall Identified

    Police are now looking for more information about the death, including information on Man's activities and acquaintances. Man's body was found to be in "an advanced state of decomposition", the incident report, filed December 21, stated.

    Pepsico (NASDAQ:PEP) Given Hold Rating at Jefferies Group

    Wedge L Lp Nc has 1.09% invested in Cullen/Frost Bankers, Inc. (NASDAQ:PEP) to report earnings on February, 13 before the open. Commonwealth Of Pennsylvania School Empls Retrmt Sys stated it has 8,527 shares or 0.01% of all its holdings.
    Trump denies vulgar remarks about Haiti, African countries; condemnation mounts

    Trump denies vulgar remarks about Haiti, African countries; condemnation mounts

    Of course, the president denies using the word , only owning up to using " tough language" during the immigration talks. ". I will not be diverted from all possible efforts to continue negotiating to stop the deportations.
  • Mauricio Pochettino tips Harry Kane to break Premier League goalscoring record

    Mauricio Pochettino tips Harry Kane to break Premier League goalscoring record

    Serge Aurier was played into space on the right and his low cross into the six-yard box was tapped home by Son . The way Spurs are set up to play Kane could continue these kind of numbers for at least another two seasons.

    Kinder Morgan (KMI) Earns Outperform Rating from Analysts at Credit Suisse Group

    The firm earned "Buy" rating on Saturday, September 5 by Cantor Fitzgerald. (NYSE: KMI ) on Thursday, January 28 to "Buy" rating. The company was maintained on Tuesday, October 17 by Canaccord Genuity. (NYSE: KMI ) to report earnings on January, 17.
    On Eve of Detroit show, FCA Announces $1B Investment

    On Eve of Detroit show, FCA Announces $1B Investment

    Fiat Chrysler stated would create 2,500 jobs at a factory in Warren, Michigan, near Detroit and invest $1 billion in the facility. Accern identifies negative and positive press coverage by monitoring more than twenty million blog and news sources.
  • Exam shows Trump in ´excellent health´: White House

    Exam shows Trump in ´excellent health´: White House

    In a series of tweets on Friday, Mr Trump also suggested that momentum toward a deal on maintaining such protection had stalled. The White House initially did not deny that Trump made the remarks, but Trump later disputed the reports on Twitter .
    Ford Ranger debuts in Detroit

    Ford Ranger debuts in Detroit

    Ford reports that it is capable of 11,400 pounds of towing, a 2,020 payload, and making 250 horsepower and 440-pounds of torque. It includes off-road tuned shocks, all-terrain tires, a frame-mounted heavy-gauge bash plate, and frame-mounted skid plates.

    Ed Sheeran, Dua Lipa lead Brit Awards nominations

    The " New Rules " hit maker is up against, Jessie Ware, Kate Tempest and Laura Marling in the best British female category. In the global categories, Foo Fighters , Haim, The Killers, LCD Soundsystem and Arcade Fire are up for best group.
  • Quadrature Capital Ltd Takes Position in Western Digital Corp. (WDC)

    The data storage provider reported $3.56 earnings per share for the quarter, topping the consensus estimate of $3.01 by $0.55. Shares for $2.14 million were sold by SANDERS WAYNE R. $2.13M worth of stock was sold by CARP DANIEL A on Friday, October 27.

    Man Utd willing to go to £400000-a-week to tempt Alexis

    So, they want a combination of the two, that big clubs can give them. So he has got more opportunities to win trophies there'.
    White House not denying Trump used profanity to describe African countries

    White House not denying Trump used profanity to describe African countries

    LOU BARLETTA: We need to make sure that we're not going to have another 800,000 or million people coming into the country. A permanent way to protect DACA recipients and provide a path to citizenship is necessary, he said.