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US Commerce Secretary Wilbur Ross announced preliminary anti-subsidy duties averaging 20 percent on Canadian softwood lumber, affecting about $5.66 billion of imports. Ross said Canada was already retaliating by restricting US milk protein imports.
Canada vowed to challenge the duties through litigation.
The tariffs and Canadian dairy restrictions escalate a trade dispute ahead of NAFTA renegotiation. Restrictions on US milk protein products could reduce US dairy export demand and weigh on related dairy prices.
fortune.comReuters, Michelle TohApr 25, 2017Not enough comparable past events yet for a historical read.
After 49 past bearish trade events, Milk (Class III) moved a median -0.3% over 5 sessions (39% higher; middle half -4.7% to +1.5%), and -0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
