Canada will challenge what Ottawa described as 'unfair, unjust and illegal' U.S. duties on Canadian softwood lumber products, the trade ministry said on Tuesday. The softwood lumber tariffs are the legacy of a decades-long trade dispute over the structure of Canada's timber sector that could not be resolved when a quota agreement expired in 2015. U.S. producers say the Canadian exports are unfairly subsidized and in July, the country's commerce department ruled that most Canadian softwood lumber would be subject to a 7.99% tax.
The agency lowered ratings for several mid sized banks in a new reminder of the challenges facing the industry. -- The BRICS group of emerging market powers are set to debate how they can reduce their reliance on the dollar at a summit in Johannesburg this week, but officials are downplaying any suggestion that the greenback’s dominant role will diminish any time soon.
The Toronto-based department store chain said Tuesday that the changes to its rewards offering are meant to refresh the program to better meet current shopping habits. “Hudson’s Bay was one of the first to introduce a rewards program in Canada, and since then we have seen tremendous change in how people are shopping, how they are prioritizing their purchases, -- Macy’s Inc.
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