Usingthis link https://sgp.fas.org/crs/misc/R42789.pdf as background information, estimate and depict using a partial equilibrium diagram the economic loss to the U.S. of the softwood lumber duties imposed on Canadian imports for the combined years 2001-2006. Assume a price of $350/thousand board feet and total US consumption of 360 billion board feet, exactly one-third of which was imported from Canada. Please make sure to draw the partial equilibrium diagram.

100% 20% 60% 80% 40% 0% 1965 - Percent of Total 1967 1969 1971 1973 1975 1977 Notes: Black line indicates when the 2006 SLA entered into force. Data update provided through personal correspondence with USDA. 1979 1981 1983 1985 1987 Pap. FPL-RP-615 (Madison, WI: USDA Forest Service, December 2003), Table 28, p. 52 and Table 31, p. 55. Figure 3. U.S. Lumber Consumption by Source Percentage Source: CRS; James L. Howard, U.S. Timber Production, Trade, Consumption, and Price Statistics 1965-2002, Res. 1989 1991 1993 1995 1997 U.S. Production Other Imports Canadian Imports 1999 2001 2003 2005 2007 2006 SLA 2009 2011 2013 201510 30 20 40 60 50 80 70 0 1965 1967 Billion board feet 1969 1971 1973 1975 1977 1979 Notes: Black line indicates when the 2006 SLA was entered in force. 1981 28, p. 52 and Table 31, p. 55. Data update provided via personal correspondence. 1983 1985 1987 1989 Figure 2. U.S. Lumber Consumption by Source Price Statistics 1965-2002, Res. Pap. FPL-RP-615 (Madison, WI: USDA Forest Service, December 2003), Table Source: Congressional Research Service (CRS); James L. Howard, U.S. Timber Production, Trade, Consumption, and 1991 1993 1995 1997 U.S. Production 1999 Canadian Imports Other Imports 2001 2003 2005 2007 2006 SLA 2009 2011 2013 2015$1, 100 $700 $900 $500 $300 $100 $ per MBF 1977 1978 1979 1980 1981 1982 1983 1984 1985 by the Bureau of Labor Statistics. MBF = thousand board feet. 1986 1987 1988 1989 1990 1991 Source: Random Lengths Publications, Inc., at http://www.randomlengths.com/ on April 12, 2017. 1992 1993 1994 Figure I.Average Monthly Composite Prices for Framing Lumber in Current (Nominal) and 2016 Dollars Notes: Adjusted to 2016 dollars using the Consumer Price Index for All Urban Consumers (CPI-U) published 1995 1996 1997 1998 1999 2000 2001 2002 2003 Nominal Dollars 2004 2005 2006 2007 2008 2009 2010 2011 2012 2016 Dollars 2013 2014 2015