Trucking could be big loser in Trump’s lumber tiff, NAFTA reset
President Donald Trump’s decision to place softwood lumber tariffs on Canada this week might be an indication that the administration is set for a reset on the North American Free Trade Agreement (NAFTA). It is a gamble that potentially puts billions of dollars in NAFTA trade shipments at risk – much of it hauled by trucks.
In what one Bloomberg analyst called a shot at NAFTA, Trump slapped Canada with tariffs ranging between 3% and 24% in a countervailing duty announcement on Monday. While much of the attention on the U.S.’ trade imbalance has been focused on Mexico, it is Canada that has taken the first shot, and that has increased concern over a broader NAFTA battle.