Kelowna – Prime Minister Mark Carney’s government is preparing financial assistance for the forestry sector, as American softwood fulfills American duties on wood.
The Carney is promising a support package for the industry that includes $ 700 million in debt guarantee and $ 500 million for long -term support, which helps companies diversify export markets and develop their products.
This comes in view of increased trade tension with the US at a long time of a long time of friction in Canada-US business relations.
The US Department of Commerce recently announced that it intends to increase anti-dumping duties on Canadian softwood.
Last time when the US reviewed the rate, it is a notable growth, which was just more than just 7 percent.
Carney also says that the government will present a training program for the workers which will include some $ 50 million for the forestry sector.
This report of Canadian Press was first published on August 5, 2025.
Canadian press
