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HomeNewsCanadian Dollar`s Success Is Worrying For Country`s Lumber Industry

Canadian Dollar`s Success Is Worrying For Country`s Lumber Industry

As the Canadian dollar rises, the worries for the Canadian lumber industry do as well.

The loonie topped 80 cents this Monday for the time since the summer of 2015

Timmins-James Bay MPP Gilles Bisson says the recent loftiness of the loonie makes travel cheap into the US, but the positives stop there.

Bisson says we export so much that the country is net losers with a higher Canadian dollar.

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He says the extra tariff on lumber was offset by a lower Canadian dollar, however, with this recent boost that is no longer the case.

Bisson says the Canadian dollar`s recent success is partially due to the general weakness of the US greenback and faith in a strong Canadian economy.

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