New Federal Support for Softwood Lumber Industry

Prime Minister Mark Carney unveiled a C$1.25 billion package aimed at transforming Canada’s softwood lumber sector. The measures include up to C$700 million in loan guarantees, C$500 million for product and market diversification, and C$50 million for retraining, reskilling, and income support for affected workers.

This initiative is part of a broader industrial strategy to invest in domestic production, develop Canadian expertise, support business reinvestment, and navigate global market shifts.

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