WASHINGTON—President-elect Donald Trump is planning to issue a broad memorandum that directs federal agencies to study trade policies and evaluate U.S. trade relationships with China and America’s continental neighbors—but stops short of imposing new tariffs on his first day in office, as many trading partners feared. The memo directs federal agencies to investigate and remedy persistent trade deficits and address unfair trade and currency policies by other nations. And it singles out China, Canada and Mexico for scrutiny, directing agencies to assess Beijing’s compliance with its 2020 trade deal with the U.S., as well as the status of the U.S.-Mexico-Canada Agreement, or USMCA, which is set for review in 2026. But the memo doesn’t, in itself, impose any new tariffs—a momentary relief for foreign capitals. Instead, the trade policy memo is an indication of debates still roiling the incoming administration over how to deliver on Trump’s campaign trail promises for across-the-board tariffs on imports. [to access the full story a WSJ subscription is required]
Related coverage in: the Globe and Mail: President-elect won’t impose new tariffs on first day
BC could face severe economic consequences from president-elect Donald Trump’s proposed 25% tariff on Canadian imports. The province projects a cumulative economic loss of $69 billion over four years, with real GDP potentially declining by 0.6% annually in 2025 and 2026. The BC. Ministry of Finance, estimates significant job losses and revenue reductions during this period, with the unemployment rate possibly increasing to 6.7% in 2025 and 7.1% in 2026. The tariff’s effects on the labor market could result in 124,000 job losses by 2028, with the most affected sectors being natural resources, manufacturing, transportation, and retail. Corporate profits could decrease annually by $3.6 billion to $6.1 billion. …Experts indicate that the tariffs could disrupt the US lumber supply chain. Rajan Parajuli, an NC State University professor, said that… US lumber producers might profit from higher prices, consumers would face increased costs if demand remains steady. The Peterson Institute for International Economics notes that these tariffs could extend beyond Canada, impacting the broader wood product sector.

Washington, D.C. — The U.S. Department of Agriculture today announced the names of the following individuals who will hold senior staff positions in Washington, D.C. These appointees have been selected to implement President Trump’s America First agenda, ensuring that the needs of America’s farmers, ranchers, and producers remain a top priority.
It may take months, if not years, to rebuild after the wildfires in Southern California, raising the likelihood of a spike in demand for lumber in the months and years ahead. The rebuilding process after events such as these “typically drives a significant demand for building materials, particularly lumber, given its foundational role in construction,” said Michael Goodman, of building-materials wholesaler Sherwood Lumber. The California wildfires could slow the economy and boost inflation – and that’s not even the worst of it, economists say. …Looking at the bigger picture for the lumber market, Kuta said, “if one believes that interest rates will gradually moderate lower, we as a nation [would still be] woefully underbuilt and in need of new residential housing.” Among the companies to consider are lumber providers Canfor Corp. and West Fraser Timber Co. and timberland company Weyerhaeuser Co., well as building-material suppliers Builders FirstSource Inc. and Boise Cascade Co.
A new lawsuit accuses Procter & Gamble of deceiving Charmin purchasers with misleading environmental claims, known as greenwashing, about how it sources its toilet paper. In a proposed class action on Thursday, eight consumers said Procter & Gamble obtains most wood pulp for Charmin from the Canadian boreal forest… through harmful logging practices such as clear cutting and burning. The consumers called this sourcing “completely at odds” with Procter & Gamble’s public commitment to protecting the environment, including its “Keep Forests as Forests” campaign and the “Protect-Grow-Restore” logo found on Charmin packages. The lawsuit called the display of logos from the Forest Stewardship Council and Rainforest Alliance misleading because Procter & Gamble uses little pulp from FSC-certified forests and the Rainforest Alliance no longer has a certification program. …The lawsuit… seeks restitution, compensatory damages and punitive damages for violations of consumer protection laws in 28 U.S. states and Washington, D.C.
U.S. trade with Canada and Mexico is back in Trump’s crosshairs with the tariff threat. …Much of the focus has centered on autos but Canada is also the top trading partner of the U.S. for critical chemicals, an industry now bracing for the potential impact. …Mineral firms in Canada are considered domestic sources under Title III of the Defense Production Act and have received U.S. federal funding for critical minerals projects in Canada. …Canada is also the largest supplier of U.S. energy imports, including crude oil, natural gas, and electricity. …Rand Ghayad, chief economist at the Association of American Railroads, said the interconnected rail network between the U.S. and Canada is a cornerstone of North American trade, underpinning economic growth and supply chain resilience. …The inflationary effects from tariffs will take some time to materialize, as these costs will need to be passed through to end buyers.
Lumber prices remained above $590 per thousand board feet in January, hovering at eight-week highs as robust demand for building materials in the US compounded with dovish expectations for Federal Reserve policy. U.S. housing starts in December surged 15.8% from the previous month to a seasonally adjusted annual rate of 1.499 million units, the highest since February 2024 and well above market expectations of 1.32 million. Although building permits fell 0.7% to 1.483 million units, they exceeded forecasts of 1.46 million. At the same time, easing core inflation from the latest CPI report reinforced expectations of Federal Reserve rate cuts by mid-year, while mortgage applications jumped 33.3%, marking the largest weekly increase since 2020, as buyers sought to lock in borrowing costs despite rates exceeding 7%. Additionally, U.S. buyers stockpiled inventory ahead of a proposed 25% tariff on Canadian softwood lumber, while existing 14.4% duties further constrained supply. [END]
President Donald Trump’s proposal to implement significant tariffs on the country’s key trading partners could have ripple effects on the U.S. housing market. …The tariffs could drive up prices for new homes and renovations, further straining an already tight market. “The tariffs will raise the cost of materials, which could directly increase the cost of constructing new homes,” said Wayne Winegarden at Pacific Research Institute. Experts said tariffs are a tax that increases the costs of imported goods, including building materials. …Higher material and construction costs caused by the tariffs could make buying a home out of reach for many people. “The tariffs will slow down the economy and will also encourage the Federal Reserve to pursue a higher interest rate environment,” Winegarden said. …Together, the higher rates coupled with the rising cost of construction will significantly reduce housing affordability.”


Volumes of OCC (old corrugated containers) and mixed paper are shifting with societal and economic trends, industry experts said during a paper industry update webinar presented by the Recycled Materials Association. Box shipments in 2025 are likely to get off to their usual slow start, said Ryan Fox, at Bloomberg. …For full-year 2025, Bloomberg estimates box shipments at 385 billion square feet and more than 31 million tons, an increase of 0.5%-1% over 2024 levels. …Fox added, paper company executives have largely said they don’t see “any observable things happening in 2025 that are going to cause a major inflection in demand.” …TetraPak makes the case for poly-coated paper. …Graphic Packaging provides update on Waco mill
Even as fires continue to burn across Los Angeles, many of those who lost their houses are already making plans to rebuild. To overcome labor shortages and speed up the process, some are turning to prefabricated homes… Michael Wara, senior research scholar at Stanford University’s Woods Institute for the Environment, said much of Paradise, California, was rebuilt with prefabricated homes after the devastating 2018 Camp Fire. He expects the same in Los Angeles. “There are not enough general contractors in Los Angeles to rebuild 12,000 structures in addition to all the other work,” he said. “Solutions where you can build most of the homes somewhere else not subject to the labor constraint that will affect Los Angeles could be particularly attractive.”

President Donald Trump signed executive order aimed at boosting oil and gas drilling, mining and logging in Alaska. While state political leaders cheer, environmental groups see it as worrying. …”It means a timber industry in the Tongass National Forest can once again take place. It means Alaska can begin the process [of] finally getting its remain[ing] acreage of land from the federal government”, Republican Gov. Mike Dunleavy said on X about the executive orders. …It also aims to reverse restrictions on logging and road-building in a temperate rainforest. …Cooper Freeman, Alaska director at the Center for Biological Diversity, told The Associated Press that the president “just can’t wave a magic wand and make these things happen. Environmental laws and rules must be followed… We’re ready and looking forward to the fight of our lives to keep Alaska great, wild and abundant”.
For the second time this decade, Weyerhaeuser Co.’s Longview lumber mill has been hit with a serious state fine for violating state stormwater control regulations. On Monday, the state Department of Ecology announced it has fined the company $145,000 for 36 stormwater discharge violations, 15 monitoring requirements violations, and 16 reporting requirement violations, all of which occurred between July 2022 and May 2024… “We believe strongly in permit compliance and invest significant time and resources to ensure we are meeting all environmental standards,” Weyerhaeuser Co. spokeswoman Mary Catherine McAleer said in an e-mailed statement Thursday. The latest penalty follows another related to stormwater that Ecology issued to Weyerhaeuser‘s Longview lumber mill in 2022, when the agency fined the facility $40,000 for repeated water quality violations.
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As California residents grapple for answers in the wake of a massive firestorm event in which two major blazes ravaged parts of Los Angeles — the Palisades Fire and the Eaton Fire —power lines are once again at the center of debate. It’s no wonder. Failed electric equipment and poor maintenance have caused horrific blazes in recent years, sometimes sparked by the smallest of parts, according to government investigators. …The 2023 fire in Maui that killed 102 people was caused by “reenergization” of broken power lines during high winds that showered sparks into dense, dry vegetation. …One key but often unpopular tool for preventing deadly wildfires is shutting off power when high winds of certain velocities are forecast. …Undergrounding power lines is the single best method to avoid dangerous arcing of overhead wires, or having dry palm frond hit one that can spark or spread fires. It’s also by far the most costly
WASHINGTON – Today, U.S. Secretary of Commerce Gina Raimondo announced the Department’s Economic Development Administration (EDA) is investing $6.2 million in the state of Kansas to support forestry and construction industry workforce development. The EDA forestry investments announced today are: Kansas State University in Manhattan will receive a $3.2 million grant to bolster natural resource and wildfire risk management workforce development through construction of a modernized training facility. This EDA investment will be matched with $815,794 in local funds. …“The Biden-Harris Administration’s Investing in America agenda is growing jobs, building a sustainable workforce, and creating opportunities for workers across the country,” said Secretary of Commerce Gina Raimondo. “These EDA investments in Manhattan and Beloit will provide expanded forestry and construction workforce training programs so local workers get the skills they need for in-demand jobs, and the local economy grows.”
President Donald Trump signed actions on the first day of his second term to pull the United States out of the Paris Agreement, an international climate change treaty in which nearly 200 countries agreed to work together to limit global warming. …Representatives from the US were leaders in the Paris Agreement negotiations. It was adopted by nearly 200 countries during the Obama administration in 2015. Trump announced his intent to pull the US out of the Paris Agreement in 2017, though it wasn’t formalized until November 4, 2020, a day after the presidential election that Biden ultimately won. On the first day of his term, Biden announced his intent to reenter the Paris Agreement. On the first day of Trump’s second term in January 2025, Trump ordered the withdrawal from the Paris Agreement again as he sought to increase US production of fossil fuels. …In the meantime, a leading United Nations climate change official reiterated “the door remains open to the Paris Agreement.”