The global trade landscape has fundamentally changed. To meet this moment, Canada\u2019s new government is developing a comprehensive industrial strategy. It will invest in domestic production, develop Canadian expertise, support our companies to retool and reinvest, and help industries pivot to a growing Canadian market and those of new, reliable trading partners around the world.<\/p>\n
As part of that strategy, the Prime Minister, Mark Carney, today announced\u00a0a series of new measures to help the softwood lumber industry transform to remain competitive.\u00a0These measures will help unlock the full potential of the industry as we scale up housing and major infrastructure construction and drive long-term economic growth, rooted in Canadian resources and innovation.<\/p>\n
Canada\u2019s new government will:<\/p>\n
Provide up to $700\u00a0million in loan guarantees to address the immediate pressures facing the softwood lumber sector. This will ensure companies have the financing and credit support they need to maintain and restructure their operations during this period of transformation.Invest $500\u00a0million\u00a0to supercharge product and market diversification\u00a0to make the\u00a0industry more competitive for the long-term. As technology changes the way we build and demand grows for softwood lumber, this will increase domestic processing and value-added production. This investment will also include initiatives that support Indigenous-led forestry business development and diversification.Build Canadian by prioritizing Canadian materials in construction and changing federal procurement processes to require companies contracting with the federal government to source Canadian lumber. As the government delivers on its mandate to build major infrastructure projects faster and to increase the pace of homebuilding to nearly 500,000 new homes per year over the next decade, we will ensure\u00a0Canadian lumber and other Canadian materials are prioritized in that construction. Once established, Build Canada Homes will provide financing to innovative private sector home builders in Canada that use Canadian technologies and resources, like mass timber and softwood lumber.Diversify international markets for Canada\u2019s sustainably sourced forest products.\u00a0We will launch a new initiative to diversify exports of Canadian wood products, including the reinvigoration of federal programming to expand offshore markets for sustainable, innovative, high-quality products. In fast-growing regions with rising demand for housing and other buildings, we will promote Canadian lumber as an affordable, sustainable solution.Provide $50\u00a0million for upskilling, reskilling, and income supports for more than\u00a06,000\u00a0affected softwood lumber workers through the Labour Market Development Agreements. This investment builds on temporary enhancements to the Employment Insurance (EI) program and the EI Work-Sharing program. Through this investment, we will equip workers with the tools and training they need to stay competitive \u2013 helping them adapt to new technologies, strengthen their expertise, and excel in changing industries.<\/p>\n
Canada\u2019s economy is shifting from reliance to resilience. During this time of transformation, these measures will ensure Canada\u2019s softwood lumber industry and workers are able to adapt and emerge even stronger.<\/p>\n
Quotes<\/p>\n
\u201cThe forest sector is a pillar of Canada\u2019s economy. As we shift from reliance to resilience, Canada\u2019s new government will ensure the industry can transform to seize new opportunities in Canadian and international markets. In the face of a changing global landscape, we are focused on what we can control \u2013 building Canada strong with Canadian expertise, using Canadian lumber.\u201d<\/p>\n
\u201cCanada\u2019s forestry sector is a cornerstone of our economy. It supports nearly 200,000\u00a0good jobs in both urban and rural communities and accounts for billions in contribution to Canada\u2019s GDP and exports every year.\u00a0Through the actions announced today and existing supports, we are committed to protecting this key industry and the workers who power it.\u201d<\/p>\n
\u201cToday\u2019s announcement showcases the Government of Canada\u2019s steadfast commitment to supporting the Canadian economy and the workers who keep it strong. By bolstering this key industry and ensuring resilient supply chains, we stand with the industry, its workers, and communities to keep Canada a trusted global trade partner.\u201d<\/p>\n
\u201cThe world is changing, and Canada must be ready to meet the challenges of our times. That\u2019s why the government is taking action to support the workers and industries that build Canada \u2013 day in and day out. By strengthening what we have here at home and standing up for Canada, we\u2019re making sure our country stays strong, competitive, and ready to lead.\u201d<\/p>\n
\u201cCanada\u2019s natural resources are not only a cornerstone of our national identity \u2013 they are the foundation of our economy. Protecting and modernizing our resource industries in the face of tariffs and global uncertainty is critical to safeguarding Canadian jobs and communities and ensuring a prosperous and strong future.\u201d<\/p>\n
Quick factsCanada\u2019s forest sector is a major economic driver, supporting nearly 200,000 workers, including over 11,000 Indigenous Peoples, and contributing more than $20\u00a0billion to our GDP.In 2024, 66% of Canada\u2019s total\u00a0softwood lumber production was exported, and of that, nearly 90% was exported to the U.S.On July 25, 2025, the U.S. Department of Commerce doubled duties on softwood lumber products from Canada, with further increases expected later this month.New and innovative forest products such as engineered timber, biofuels, and forest product-based biodegradable packaging materials are helping Canada reach net-zero by 2050 and enabling more sustainable, efficient housing solutions.Canada\u2019s new government will double the pace of homebuilding to almost 500,000 new homes a year over the next decade. That alone will double the use of Canadian softwood lumber in residential construction \u2013 an increase of almost 2\u00a0billion board feet \u2013 and it will double demand for structural panels \u2013 an increase of almost 1\u00a0billion square feet.Build Canada Homes, once established, will prioritize the use of Canadian-made materials \u2013 including lumber \u2013 to accelerate housing construction while supporting Canadian workers and industries.Associated link<\/p>\n","protected":false},"excerpt":{"rendered":"The global trade landscape has fundamentally changed. To meet this moment, Canada\u2019s new government is developing a comprehensive…\n","protected":false},"author":2,"featured_media":47687,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[45,49,48,46],"class_list":["post-47686","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-ca","tag-canada","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/47686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=47686"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/47686\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/47687"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=47686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=47686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=47686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}