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 is expected to formally declare on Wednesday that it will not extend the US-Mexico-Canada Agreement on trade, starting a decade-long clock to wind down the 32-year-old North American free trade zone. That declaration will kick off a six-year review session, part of a “sunset clause” negotiated by President Trump’s first administration. However, it will do little to alter contentious negotiations over the pact’s future, including sweeping demands to boost US content in automotive production and trade protections to block Chinese goods. …Trade chiefs from the US, Mexico and Canada are expected to meet virtually on Wednesday and declare whether they want to extend the pact for another 16 years. …Failure to reach agreement on revisions to USMCA would keep the trade pact in an indefinite limbo, with similar review sessions annually for the next 10 years. …The review and sunset process is separate from a termination clause that the US could exercise, triggering a withdrawal within six months.

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]
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.
VANCOUVER — A BC judge has ruled against a Richmond company that sought to reopen the Cowichan Tribes Aboriginal title case. Last year’s landmark B.C. Supreme Court decision found the Cowichan held Aboriginal title to a swath of land in southeast Richmond, including privately owned lands. The application to reopen the case was brought by the Montrose companies, which owns warehouses, a Coca-Cola distribution centre and other facilities in the area. The company was not involved in the trial that led to the 2025 ruling, but said it affected the status of its property and, in one case, led to a potential deal being put on hold. In a decision dated Monday, BC Supreme Court Justice Barbara Young dismissed the company’s application. …She said the proper place for Montrose to make its case is through an appeal.
A volatile trade picture in B.C. continued into April as goods exports fell four per cent month-to-month (unadjusted for seasonality) to $4.5 billion, while imports fell by a more rapid clip of 14 per cent to $6.2 billion. That said, exports were still up significantly year-over-year by 6.7 per cent, while imports rose a more modest 2.1 per cent. …Current year-over-year growth has been driven primarily by energy products, which rose 9.7 per cent (+$128 million), along with metal ores and non-metallic minerals… In contrast, the beleaguered forestry sector declined nine per cent (-$81 million) to $823 million, although April marked the highest monthly export value for the sector in nine months. Forestry continues to face headwinds from elevated U.S. softwood lumber duties, broader trade measures (including Section 232 tariffs), timber supply constraints and softer demand conditions. Year-to-date … forestry exports fell 24.8 per cent (-$1 billion)… In B.C., building permit activity receded sharply in April…



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.

A Kamloops Fire Centre spokesperson told Sicamous council that local forests are still quite dry despite a burst of fresh green growth brought on by recent wet weather. At the June 24 District of Sicamous committee of the whole meeting, Kamloops Fire Centre manager Jeff Dunne gave council an overview of BC Wildfire Service’s regional operations and a look at what to expect in the coming months. Dunne said a dry start to the spring compounded on drought conditions experienced over the winter. “As everyone is aware, our spring this year looked a little bit challenging,” Dunne said. “Over-winter snows in some parts of the region were way below average.” …Dunne said typically, the Kamloops Fire Centre will be the busiest in the middle of July, but this year BCWS has already seen significant fire behaviour and growth across the region.
The Syilx Okanagan Nation is petitioning the federal government to act swiftly to protect a prized and threatened caribou species that continues to fall off the map near Revelstoke and Nakusp. On May 28, the Nation announced it had filed for an emergency order under Section 80 of Canada’s Species at Risk Act to press Environment and Climate Change Canada to conserve federally threatened southern mountain caribou. The Nation says continued logging of critical old-growth habitat falls out of line with its forestry principles and standards, and jeopardizes the future of the three caribou herds that remain on Syilx territory. The Frisby-Boulder herd west of Revelstoke is already functionally extinct with just eight caribou, while the Central Selkirk herd … sits at around 27 caribou. The Columbia North herd, roughly 185 caribou strong in the Monashee Mountains north of Revelstoke, has the greatest likelihood of survival, though the Nation says long-term forest habitat recovery remains a challenge.
The Wood Pellet Association of Canada (WPAC) recently highlighted the Indigenous-led efforts of the Central Chilcotin Rehabilitation Ltd. (CCR) at the Palmer Lake forest fire site. Through an article and video, WPAC described CCR’s work and how it treats fire-affected stands by removing dead and damaged material, reducing fuel loading, and spacing young lodgepole pine to support forest recovery. It is also demonstrated how the CCR uses recovered fibre to be put to productive use rather than leaving it at the site. “It’s such a good news story,” wrote Gord Murray, WPAC executive director. “CCR is turning what might otherwise be seen as waste into jobs, economic development, community pride, and contributions to the biomass industry.”

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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:



