US EditionIndustry minister says relief coming for tariff-hit softwood lumber sector
The $700 million program will help softwood lumber businesses access loans and credit to manage U.S. tariffs, supporting operations and capital expenditures, officials said.
- Federal Industry Minister Mélanie Joly said the Canadian government will provide funding through banks, backed by the Business Development Bank of Canada, to support the softwood lumber sector amidst "unjustifiable" U.S. tariffs in the "coming days."
- Joly stated that the funding aims to ensure businesses "stay afloat" while dealing with the tariffs and will also offer support for operations and capital expenditures.
- The minister said she is closely following the softwood lumber industry's development because "if one day Canada is not in a time of peace, we need to have...lumber also," citing national security concerns.
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Federal Minister of Industry Melanie Joly announces imminent financial relief for Canada's softwood lumber sector, which is heavily affected by U.S. tariffs.
Industry Minister Says Relief Coming for Tariff-Hit Softwood Lumber Sector
Federal Industry Minister Mélanie Joly says financial relief is coming soon for Canada’s tariff-struck softwood lumber sector. The minister says the government will provide funding through banks, backstopped by the Business Development Bank of Canada, in the “coming days.” While the vast majority of Canadian trade with the U.S. is exempted from tariffs because of the Canada-U.S.-Mexico Agreement, U.S. President Donald Trump has targeted the stee…
Cambridge Times
BDC leans further into development role amid tariff challenges, set to deliver $700M in new liquidity for struggling softwood lumber sector
MONTREAL, Oct. 15, 2025 (GLOBE NEWSWIRE) -- As announced by Minister of Industry Mélanie Joly today, the Business Development Bank of Canada (BDC) will make it easier for the country’s softwood lumber businesses to access to $700 million in new…
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