PM Carney announces measures to boost softwood lumber industry amid U.S. threats

Prime Minister Mark Carney has announced that his government will provide financial support to the Canadian softwood lumber industry amid threats from the U.S.

The announcement was of a support package for the industry including $700 million in loans and $500 million in long-term assistance for companies to diversify their markets and make their products.

This follows the U.S. Commerce Department announcing its intention to raise anti-dumping duties on Canadian softwood to over 20 per cent.

Softwood lumber has been a long-time point of contention in the trade relationship between Canada and the U.S.

Carney also said his government will fund a training program for workers, saying $50 million will go toward the forestry sector.

With files from the Canadian Press. 

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