Prime Minister Mark Carney announces 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.
Prime Minister Mark Carney announced the plan Tuesday, promising $700 million in loan guarantees to address what he called "immediate pressures" and $500 million for long-term supports to help companies diversify export markets and develop their products.
Carney also promised that future projects will "prioritize" Canadian lumber.