TRADE

U.S., Canada Wrap Up Lumber Accord: U.S. and Canadian negotiators ended a long-running and bitter trade dispute on Tuesday by concluding an agreement slowing Canadian shipments of softwood lumber to the United States. The five-year pact, which was effective Monday, differs significantly from an agreement in principle by the two sides in February. In the final deal, the four leading lumber-producing provinces--Ontario, Quebec, British Columbia and Alberta--agreed to reduce lumber exports to the United States by more than 6% from the record levels of the past two years. The tentative understanding in February called for quotas on softwood lumber, used primarily in housing construction, only from British Columbia and for different export-control methods in the other provinces.