Mark Carney

Prime Minister Carney wants the Canadian lumber and steel sectors to look for more opportunities at home as US tariffs and shifting global trade tides limit their opportunities abroad. …Many of the measures Carney unveiled are aimed at boosting the use of Canadian steel and lumber in domestic homebuilding and infrastructure projects. Ottawa’s new Buy Canadian plan means firms must prioritize the use of Canadian materials in federal government defence or construction contracts worth $25 million or more. …Starting next spring, the government will offer subsidies to rail companies to cut freight fees in half on shipments of steel and lumber across provincial borders for a year. Carney said the federal government is adding an extra $500 million in loan guarantees for the softwood lumber industry on top of other measures to encourage homebuilders to use made-in-Canada materials. The federal affordable housing agency Build Canada Homes will also prioritize funding for shovel-ready housing projects.

From the Vancouver Sun’s Derrick Penner: Prime Minister Mark Carney’s new forestry sector aid helps, shy of new softwood lumber deal