Softwood lumber dispute between Canada and the USA: Protectionism is not the answer
The Softwood lumber dispute stands to decimate one of Canada's largest industries. It will have a major impact on British Columbia in particular, where over 100,000 people are employed in the lumber industry. Softwood lumber makes up more than half of the provinces exports. Thousands of jobs nationwide will be lost. The Canadian economy is completely dependent on trade with the US; 85% of Canada's trade is directly with its larger neighbour to the south. As devastating as this is to Canadians, the softwood lumber dispute is just a small example of protectionist measures being put in place around the world. The threat of a global trade war is growing. This would destroy any possibility of an economic recovery in the short term and force capitalism into an even deeper crisis.