Mark Carney
Prime Minister Mark Carney says Canada will work with the United States and Mexico to “modernize” the trilateral trade deal known as CUSMA, but won’t accept a bad deal from U.S. President Donald Trump. “We could sign a bad deal this afternoon. We could have signed a bad deal a year ago. We’re not going to sign a bad deal, so it has to be a real deal,” he said Thursday. He was asked about U.S. Ambassador to Canada Pete Hoekstra’s comment that officials are “not anywhere close” to a deal. “What I have seen with the president is that you’re not close to making a deal, and then you make a deal,” the prime minster said. “It doesn’t mean the deals are good deals, but it means being prepared, having done the work, knowing what you want,” he added.
Canadian officials will meet their Mexican and American counterparts on July 1 for the first tri-lateral meeting to review the Canada-U.S.-Mexico (CUSMA) agreement, a spokesperson for Canada-U.S. Trade Minister Dominic LeBlanc confirmed. …LeBlanc’s office tells CTV News the meeting is scheduled to be virtual for now, but that things could evolve. Minister LeBlanc and Chief Trade Negotiator Janice Charette met with the United States Trade Representative Jamieson Greer on the sidelines of the G7 summit in France last week. …July 1 is the deadline for all three parties involved in the trade pact to decide whether to renew the deal for another 16 years, withdraw from the agreement altogether, or start an annual rolling review process that could last years.
A Toronto company is suing BC, saying it was stripped of its mining rights as part of a deal with the Gitxaała Nation. In a lawsuit filed in BC Supreme Court, MCC Canadian Gold Ventures says it was asked to rescue a small gold mine on Banks Island, south of Prince Rupert. But then the BC government stripped its mining rights to offset some of the impacts of another BC Supreme Court ruling involving the Gitxaała. The company says it invested millions in the property and now cannot move ahead on the project. …The province has not filed a response. …MCC said their case has “striking” parallels to a lawsuit launched by Carrier Lumber in the 1990s. In 2002, the province paid a large settlement to Carrier Lumber over a lawsuit it won over government decisions the company said made it impossible to harvest timber in the BC Interior.
A sprawling legislative package aimed at lowering the cost of housing and spurring more home construction won bipartisan approval from Congress this week, but it’s hit a major roadblock in becoming law: President Trump. The White House supported the 
The European Union has formally removed its remaining tariffs on American wood-based industrial products after the European Parliament approved legislation implementing the long-awaited 
OTTAWA — Canada’s annual inflation rate in May accelerated more than expected to 3.2%, a 29-month high, data showed on Monday, as the impact of higher crude oil prices due to the Iran conflict continued to filter through gasoline costs. Analysts polled by Reuters had estimated the annual inflation rate to touch 3% in May, up from 2.8% in April. The prices, however, are already showing a major reversal in June after an interim peace deal was signed between the United States and Iran last week, which, analysts have said, could help ease the headline number in June. Statistics Canada said excluding the impact of gasoline prices, the consumer price index still posted a higher increase of 2.2% in May from 2% in April. The monthly inflation rate rose to 1% in May, exceeding expectations of 0.8% rise. This is the highest monthly rise in 15 months.
The Federal Reserve’s primary price gauge rose at its highest level since 2023, reinforcing the central bank’s recent tough talk on inflation. Excluding food and energy, the personal consumption expenditures price index showed a 3.4% annual rate after rising 0.3% for the month. The annual core reading was the highest since October 2023. For the all-items reading, the PCE index showed inflation running at a 
China remains one of the world’s major importers of softwood logs and lumber, but its 
Russia’s softwood lumber production is on course to fall 2 to 4 per cent in 2026, a second straight annual decline for an industry stripped of its European customers and now watching its Chinese lifeline weaken. That is according to consultancy Strategy Partners, whose forecast in Russian business daily Kommersant follows an official 2.5 per cent fall in 2025 to 28.5 million cubic metres and a sharper 4 per cent drop across the first four months of this year. The downturn is already visible in official data, with Russia’s Economic Development Ministry ranking wood-processing among the country’s weakest industrial performers after output fell 4.3 per cent in the third quarter of 2025 and 7.8 per cent in October. Deputy Industry and Trade Minister Mikhail Yurin told a Federation Council committee the sector had entered a downward trend, warning output could fall 20 to 30 per cent in 2026 under the worst-case scenario.
ATLANTA — At 
A proposed change to England’s fire-safety guidance could make it much harder to use timber in load-bearing structures above 11 metres. The consultation on changes to Approved Document B, the fire-safety guidance used under the Building Regulations in England, closes on 1 July 2026. Under the draft text, load-bearing elements of structure in buildings with a storey more than 11 metres above ground level should be made from materials or products achieving at least class A2-s3,d2. Most structural timber and mass timber products do not normally meet this reaction-to-fire classification. The proposal would move the debate beyond external walls and cladding. It could affect the structural frame itself in a much wider group of mid-rise residential, commercial and mixed-use buildings. This matters because mass timber and CLT are increasingly used in projects where developers want faster construction and lower embodied carbon compared with concrete or steel.
SINGAPORE — The Alliance to End Plastic Waste today published 
LONDON — The world’s rainforests are to be better protected from deforestation as the government will confirm during London Climate Action Week, that plans to take forward new rules in Great Britain including using powers in the Environment Act alongside legislation strengthening the UK Timber Regulation. Under the proposals UK businesses who trade in commodities sourced from rainforests… will need to check that their supply chains are not contributing to illegal deforestation. …UK companies have been at the forefront of global efforts to tackle deforestation within their supply chains, but voluntary action alone cannot tackle this global challenge, and several major supermarkets have been calling for stronger regulation. Rainforests and other forests are vital for storing carbon and sustaining biodiversity, yet they are increasingly threatened by deforestation. … Rules will be enforced using powers in the Environment Act, alongside legislation strengthening existing timber rules.
During the 1930s, Italy’s government launched a sweeping reforestation effort in the Prealps region near Lake Como, planting fast-growing Norway spruce on land that had been pasture and meadow for centuries. It was a conscious decision, made mainly to answer the demand for timber, but it did not involve much ecological thinking. Now, 90 years later, a new study has gone back to measure what that decision actually did to the landscape, and the results are not flattering. According to the study, ‘
JAKARTA — Pulp and paper giant APRIL’s recent decision to lower its deforestation commitments and source wood from two companies associated with extensive recent forest loss has created a new challenge for its relationship with the Forest Stewardship Council (FSC), with environmental groups urging the world’s leading forestry certifier to terminate the already suspended reassociation process. In late May, APRIL announced it was reviewing its decade-old Sustainable Forest Management Policy 2.0 and lowering its deforestation cutoff date from 2015 to Dec. 31, 2020. The move allows the pulp and paper producer to source wood from PT Industrial Forest Plantation and PT Mayawana Persada, two companies that have experienced some of the country’s largest recent forest losses. APRIL said the decision was necessary to address fibre shortages after the Indonesian government revoked the operating permits of four of its long-term suppliers earlier this year, affecting around 15% of its wood supply in Riau Province.
AUSTRALIA — Tasmania’s public native forestry company has corrected the record in a parliamentary committee after earlier stating that all logs from public native forests were processed in Tasmania. Tasmanian sawmill operator James Neville-Smith confirmed that some logs had been sent to Victoria, where processors had received compensation from the Victorian government as part of its industry shutdown. Mr Neville-Smith said the decision was due to retooling a sawmill to be plantation-only, meaning that hardwood logs needed to be processed elsewhere. Logs displaying stickers from Tasmanian state forests were also spotted at a mill in Powelltown, in the Yarra Valley, that was also a recipient of millions in Victorian compensation payments. Victoria phased out native forest logging in 2024. Since then, environmental groups have raised concerns about large quantities of logs being transported to Victoria on the Spirit of Tasmania, but were told that all were from private forests.
Western Europe is enduring a ferocious heatwave forecast to break temperature records, with half of France on red alert, rail services in Belgium disrupted and sports events in Spain and Germany cancelled or postponed. French authorities on Monday placed 49 of the country’s 96 mainland departments on a level 1 danger-to-life warning, urging 35 million people to exercise “absolute vigilance”, drink water often, avoid all strenuous exertion and stay out of direct sun. Another 40 departments were on a level 2 orange alert. “Very high temperatures are setting in for the long term across the country,” said the national meteorological service, Météo-France. “Day and night-time temperatures will be exceptional.” It said temperatures throughout western and central France were likely to exceed 40C from Monday afternoon, hitting 43C in Bordeaux, 41C in Limoges, 40C in Toulouse and Tours and 39C in Paris, and would continue rising until the end of the week.