The U.S. Commerce Department has made final determinations on Canadian dumping and subsidization of softwood lumber exports after the two sides failed to reach a so-called “suspension agreement”. The absence of such a quota-based scheme will either radically cut Canada’s $5.6 billion of exports to the U.S. (3% of all U.S.-bound exports excluding energy and autos) or lead to higher prices. Total U.S. imports have already fallen by 9% on a year earlier in the past three months. The failure to reach agreement on a single-product case bodes ill for the next round of NAFTA talks, which hav...