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CANADIAN LUMBER INDUSTRY CRITICIZES ITC DECISION; WILL SEEK BINATIONAL RULING ON INJURY DETERMINATION

 CANADIAN LUMBER INDUSTRY CRITICIZES ITC DECISION;
 WILL SEEK BINATIONAL RULING ON INJURY DETERMINATION
 WASHINGTON, June 25 /PRNewswire/ -- Tom Buell, chairman of the Canadian Forest Industries Council (CFIC), issued the following statement in response to the U.S. International Trade Commission final determination that Canadian softwood lumber imports were injuring U.S. lumber producers:
 The International Trade Commission plainly ignored the facts in arriving at its decision. Canada's share of the U.S. market is down, lumber prices are up dramatically and U.S. producers are reporting record earnings on their building products divisions. There are also growing timber shortages in the U.S. These economic circumstances plainly do not justify a finding of injury.
 For the benefit of a handful of U.S. producers, the Commerce Department and the ITC have now concluded a series of rulings that will raise doubts about America's commitment to free and fair trade, and raise the price of all new homes built and sold in the U.S. Protectionism has won this round, and many will suffer for it.
 We are naturally disappointed by the decision, but encouraged by the support for our position among the ITC commissioners.
 We will insist that the Canadian government bring the injury case to a binational panel permitted under the Canada-U.S. Free Trade Agreement. We are completely confident that a review of this case by the binational panel will result in a complete vindication of our position.
 -0- 6/25/92
 /CONTACT: Clare Lynam for the Canadian Forest Industries Council, 202-457-6382/ CO: Canadian Forest Industries Council ST: District of Columbia IN: PAP SU:


TW -- DC023 -- 3904 06/25/92 15:31 EDT
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Publication:PR Newswire
Date:Jun 25, 1992
Words:275
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