August 5, 2025
RED FM News Desk
Prime Minister Mark Carney’s government is set to provide over $1.2 billion in financial support to Canada’s forestry sector in response to escalating trade tensions with the United States. This aid package, announced amid the ongoing softwood lumber dispute, aims to help the industry cope with a significant increase in U.S. anti-dumping duties.
“We will be our own best customer by relying on more Canadian lumber for Canadian projects,” Carney said at the announcement held a manufacturing mill in West Kelowna, B.C., Tuesday.
The new support measures include $700 million in loan guarantees and $500 million for long-term programs. These funds are intended to help Canadian forestry companies diversify their export markets and develop new products, reducing their reliance on the U.S. market.
This announcement follows the U.S. Commerce Department’s decision to hike anti-dumping duties on Canadian softwood lumber to just over 20 percent, a substantial increase from the previous rate of just over 7 percent.
Carney called the duties “unjustified” while promising to move the industry away from its dependence on the U.S. market.
In addition to the financial package, the government will introduce a new training program for workers, backed by $50 million specifically allocated to the forestry sector. This initiative is designed to help workers adapt to changes within the industry.
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