US EditionCarney announces over $1B in supports for clobbered softwood lumber industry
CANADA, AUG 5 – The $870 million package includes $700 million in loan guarantees and $500 million to diversify markets and support Indigenous forestry businesses, aiding over 6,000 workers, officials said.
- Prime Minister Mark Carney announced a $1.2 billion aid package on August 5, 2025, in West Kelowna, B.C., to support Canada's softwood lumber industry facing U.S. tariffs.
- This announcement responds to the U.S. Department of Commerce doubling anti-dumping duties to over 20 percent in July, escalating long-standing trade tensions over softwood lumber.
- The aid package offers up to $700 million in loan guarantees, allocates $500 million to enhance product development and expand market opportunities, and dedicates $50 million to training and support for more than 6,000 workers impacted by the industry changes through Labour Market Development Agreements.
- Carney emphasized the goal of creating a unified Canadian economy rather than operating as separate provincial and territorial markets, highlighted the importance of moving from dependence to strength in trade relations, and pledged to increase annual home construction to nearly 500,000 units using Canadian lumber.
- These initiatives are designed to support the transformation of the softwood lumber sector, reinforce supply chain resilience, assist affected workers, and promote sustainable economic growth amid ongoing trade tensions with the U.S.
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ASLTC Welcomes Federal Investment In Forestry Sector And Workers - Wood Business
The Alberta Softwood Trade Council (ASLTC) welcomes today’s announcement by Prime Minister Carney, which includes measures to support forest sector workers, develop new markets, liquidity for small and medium-sized businesses, and a strong commitment to procuring Canadian wood products in new construction. While it remains critically important for the Government of Canada to negotiate a new Softwood Lumber Agreement with the United States, today…
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Total News Sources73
Leaning Left34Leaning Right3Center8Last UpdatedBias Distribution76% Left
Bias Distribution
- 76% of the sources lean Left
76% Left
L 76%
C 18%
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