US Edition
Carney 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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Prime Minister Mark Carney announces financial support measures for softwood lumber industry
The federal government is setting up a safety net of loans, product-development grants and market diversification plans for Canada’s softwood lumber industry in an effort to shield it from the worst of American duties and fees.
·Canada
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Coverage Details
Total News Sources80
Leaning Left37Leaning Right3Center9Last UpdatedBias Distribution76% Left
Bias Distribution
- 76% of the sources lean Left
76% Left
L 76%
C 18%
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