Yahoo Finance 
Canadian dollar stumbles as US plans to slap tariffs on softwood lumber
Canada's dollar, known as the loonie, dropped to its lowest since December after the U.S. announced plans to impose tariffs on its Northern neighbors' exports of softwood lumber.
The U.S. dollar was fetching 1.3552 Canadian dollars at 8:47 a.m. HK/SIN, compared with around C$1.3408 just before the announcement.
U.S. Commerce Secretary Wilbur Ross said on Monday that anti-subsidy tariffs averaging around 20 percent would be imposed, affecting $5 billion worth of imports of softwood lumber imports from Canada, Reuters reported.
In total, Canada exported around C$8.6 billion (around $6.37 billion) worth of softwood lumber in 2015, according to Canadian government data, which indicated the country was the world's fourth-largest forest product exporter.
In 2015, the U.S. imported a total of $325.4 billion in goods and services from Canada.
—By CNBC.Com's Leslie Shaffer; Follow her on Twitter @LeslieShaffer1
