Canadian wood product industry applauds CP-TTP

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Canada’s wood product industry predicts better access to key global export markets, especially in Asia.

The remaining members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) - Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam – agreed to a revised trade deal after the U.S. under the Trump administration abandoned the agreement.

The Forest Products Association of Canada expects the following reductions in tariffs on Canadian wood exports: 31% tariff to Vietnam for certain kinds of wood, going down to 0% starting Year 1 of the agreement.

40% tariff to Malaysia for plywood, down to 0% by Year 6. 10% tariff to Japan for wood products, going down as low as 5% in Year 1 and 0% as early as Year 11.

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