Global Markets: U.S. slaps more duties on Canadian newsprint

By Commodity News Service Canada
WINNIPEG, March 14, 2018 (CNS) – The following is a glance at
the news moving markets in Canada and globally.
The American government hit the Canadian forestry industry
with more duties late Tuesday as it upheld countervailing duties
on Canadian newsprint. The United States Department of Commerce
said in a statement that a preliminary investigation found
Canadian exporters underpriced uncoated groundwood paper by
between zero and 22.16 per cent. Uncoated groundwood paper
includes newsprint, as well as book publishing, printing and

writing papers.
Canadian home prices dipped in February after two
consecutive months of gains, weighed by declines in Toronto and
a number of other cities, data released Wednesday showed. The
Teranet-National Bank Composite House Price Index, which
measures changes for repeat sales of single-family homes, showed
prices were down 0.1 per cent last month compared to January.
Singapore-based Broadcom Ltd. withdrew its US$117 billion
bid to acquire Qualcomm Inc. Wednesday. This came two days after
U.S. President Donald Trump blocked the attempt citing national
security concerns. Broadcom’s board met late Tuesday to
formalize plans to move its base to the U.S., a cost of about
US$500 million a year under a higher tax rate. Being based in
the U.S. should make it easier for Broadcom to make acquisitions
of U.S. companies.

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