Word: softwood
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Dates: during 1960-1969
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Canadian lumbermen using lower-cost foreign ships walked away with U.S. lumbermen's East Coast business, and Canadian softwood lumber exports to Puerto Rico have increased seventyfold since 1951 while the Pacific Northwest's share shriveled to nothing. Finally, in a desperation move to save the lumber industry, Congress last year amended the Jones Act to allow lumber to go to Puerto Rico on foreign bottoms for a one-year trial period...
Often when Congress tries to help one industry by passing a law in its favor, it only hurts another. Latest case in point is that of the Pacific Northwest's softwood lumber industry, which has been losing its traditional East Coast markets at a spectacular rate to Canadian lumbermen in British Columbia. In the past ten years Western Canadian lumber shipments to the East have jumped from 7% to 57% of the market...
...lumbermen pay as little as $26 on foreign-flag freighters. Canadian lumber, which is often of better quality than Pacific Northwest lumber, thus consistently undersells it. And to compound the injury, the regulations have hurt rather than helped the U.S. merchant fleet: the Eastern lumberyards' switch to Canadian softwood has put out of business five of the eight U.S. shipping lines that used to serve the Pacific Northwest...