CUSMA has served as a critical backstop for Canada-US trade amid the US administration’s aggressive tariff stance. Product-specific measures (steel, aluminum, autos, lumber, etc.) have hurt Canada’s economy, but about 90% of US imports from Canada have remained duty free largely thanks to CUSMA. …While no agreement was reached on July 1 to extend CUSMA, the deal doesn’t expire until 2036, and tariff rates don’t change as a result. Indeed, the renewal process built into CUSMA anticipated that extending the agreement could be politically challenging. Therefore, it requires all three parties to begin negotiating a decade before its 2036 expiry—a process that formally begins now. Near-term trade risks for Canada haven’t gone away. …But, we continue to view the outright termination of CUSMA as unlikely. Decades of free trade in North America leaves strong incentives to preserve the deal. Indeed, in the proposed U.S. Section 301 measures, CUSMA exemptions were preserved again.
The Trump administration’s decision to forgo renewal of the United States-Mexico-Canada Agreement (USMCA) on the July 1 deadline has opened a new front in the ongoing trade war — and one with direct consequences for US homebuilders and the mortgage professionals who serve them. US Trade Representative Jamieson Greer confirmed on Wednesday that the three countries met virtually for the required joint review and that the US declined to extend the agreement in its current form. The USMCA remains in effect until 2036 but will now be subject to annual reviews that could force significant renegotiation of major sections of the treaty, a development that has rattled an already strained construction supply chain. …Canadian softwood lumber already carries a combined duty burden of 45%. That cost has steadily compressed builder margins even as new home demand remains sluggish and housing starts have declined every year since their 2021 peak.
The Trump administration surprised no one with its long-expected announcement Wednesday that the U.S. would not join Canada and Mexico in extending the free trade deal between the three countries. Where things go from here, however, with renegotiating the Canada-United States-Mexico Agreement is anyone’s guess. One thing is certain: the deal remains in effect while the negotiations happen, as it doesn’t expire for another 10 years. The only circumstance that would change that is an official six-month notice of withdrawal, something Trump has stopped short of threatening to do. Domestic political concerns keep the White House from scrapping the trade agreement, according to Simon Lester, a trade expert at Rice University in Houston, Texas. He says CUSMA has broad support from Republicans in Congress, particularly those from agricultural states. …On paper, according to the text of CUSMA, the three sides could now enter a perpetual series of renegotiations every year.
Corporate bosses are more relaxed about tariffs now than at any time since US President Trump’s return to power unleashed a spate of trade policy chaos. The share of corporate earnings calls in which tariffs were mentioned has fallen to the lowest level since Mr. Trump won the 2024 election, according to an analysis of transcripts. …The same pattern has played out on both sides of the border, even though companies have plenty of reasons to remain anxious on the trade front. The USMCA is set to enter uncharted territory on July 1. …Steep sectoral duties remain in place. …Meanwhile, Mr. Trump is expected to launch a wave of hefty tariffs next month to replace temporary duties he imposed after the U.S. Supreme Court struck down his earlier emergency tariffs. [to access the full story a Globe and Mail subscription is required]
BC Supreme Court Justice Barbara Young sent a chilling message to BC landowners when she refused to reopen the case where she designated Aboriginal title over private land in Richmond. Montrose Properties argued it had never received any formal notification that its fee-simple title could be affected by the outcome. This being the first case where Aboriginal title was applied to private as well as Crown land in BC, the federal, provincial and Richmond city governments all supported reopening the application. …Young didn’t rule out that the Cowichan Nation might someday seek to take over all the private land included in the designation of Aboriginal title. …It will be months and maybe years before her findings and those of the New Brunswick court are reconciled. …In the interim, Young has put provincial landowners on notice that they… are at risk from a claim of Aboriginal title.
VANCOUVER, BC — Canfor Corporation announced it has completed the acquisition of PinkWood Ltd, Western Canada’s largest I-joist facility based in Calgary, Alberta. The acquisition, announced on June 9, 2026, complements Canfor’s existing operations in Alberta and British Columbia “We’re excited to welcome the PinkWood operation, its management team and its employees to the Canfor family,” said Susan Yurkovich, President and CEO of Canfor. “The acquisition represents a strong strategic fit for both companies and supports the continued growth of Canfor’s value-added manufacturing capabilities.” PinkWood will retain its name and operate as a wholly owned subsidiary of Canfor. The operation will add 120 employees, and 46 million linear feet of annual I-joist production capacity.
BELLEVILLE, Ontario — The government is investing more than $3.3 million in 
…The 2021 floods in British Columbia’s Fraser Valley cost an estimated 
BC’s chief forester has set the new allowable annual cut (AAC), the maximum amount of timber that can be harvested each year, for the Kispiox timber supply area (TSA) in the Skeena region. The new AAC is 496,000 cubic metres, a nearly 50% reduction from the previous AAC. Although the AAC has decreased, it is approximately 39% higher than the average annual harvest between 2019 and 2023, which was 356,378 cubic metres. …The TSA overlaps the territory of the Gitxsan Nation, Gitanyow Nation, Lake Babine Nation, Tsetsaut Skii km Lax Ha Nation, Kitselas First Nation, Wet’suwet’en Nation, and Witset First Nation. …The Kispiox TSA also partially overlaps with the Nass Wildlife Area and the Nass Area, as defined in the Nisga’a Treaty. The determination aligns with legislation defined in the Nisga’a Treaty and considers interests identified by First Nations, including the management of cedar, old forests, wildlife habitat and wildlife tree retention.
EDMONTON — Current clearcutting practices sometimes outpace the recovery times of vital boreal forest species, according to a groundbreaking global analysis led by University of Alberta researchers. 
The Forest Enhancement Society of BC (FESBC) is highlighting the growing impact of community forestry across the province, recognizing projects that reduce wildfire risk, improve wildlife habitat and strengthen local economies. At the BC Community Forest Association’s 2026 Conference, FESBC presented its inaugural Community Forest Project of the Year Award to the Kaslo & District Community Forest Society for its “Jimi Crack Corn” project. The latest FESBC newsletter also features updates on fuel reduction work with Nazko First Nation, new federal funding aimed at reducing wood waste and supporting forest resilience, and a safety message from the BC Forest Safety Council encouraging supervisors to recognize early warning signs before serious incidents occur. Minister of Forests Ravi Parmar notes that more than 60 new FESBC-supported projects will build on last year’s wildfire mitigation and fibre utilization efforts, helping create safer, healthier forests and supporting jobs in rural British Columbia.
Get ready for WPAC’s annual conference, September 22-23, 2026, in beautiful Victoria, BC! This year’s theme, Building Canada Stronger: Navigating the Global Wood Pellet Transition, covers securing supply, resilient energy and next-gen bioenergy. Day 2 focuses on the innovation, decarbonization and domestic markets. Sessions include:
Across BC, significant wildfires have become an annual occurrence, underscoring the need for forest management practices to reduce long-term wildfire risk. While activities such as prescribed burning are beneficial for fuel management, both wildfire and prescribed fires produce smoke that can pose significant risks to human health. Notably, the impacts of smoke often extend beyond areas directly affected by fire, as smoke can travel significant distances, exposing communities both near and far from the fires. While the health risks specific to prescribed fire smoke remain understudied, the impacts of wildfire smoke on human health are becoming more widely understood. Substantial 
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Ontario Forest Fires said there were five new wildland fires confirmed in the northeast region in its latest update issued Sunday evening. The organization also said that efforts to contain one of the fires — Cochrane 32 — were hampered by a drone flying illegally in the area. “A drone flying over Cochrane 32 tonight has grounded all firefighting aircraft in the area and delayed suppression operations,” Ontario Forest Fires said in its update. Regulations prohibit “aircraft, including drones, from the airspace over an active forest fire within 5 nautical miles and up to an altitude of 3,000 feet.” …The five new fires include Cochrane 32, which measures 2.8 hectares and is located two kilometres northwest of Harty.
