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.
- In related coverage in CBC News: Mexico, Canada have formed a common front on CUSMA talks, says Sheinbaum
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.
Lumber climbed past $630 per thousand board feet, the highest level since October, amid higher effective US import costs on Canadian softwood and tighter expected supply. Prices rose despite a small reduction in preliminary antidumping and countervailing duties, because the combined tariff burden remains high at about 35.9% including the existing Section 232 levy, set to take effect in August. The market is also being driven by uncertainty ahead of final duty decisions, prompting buyers to accelerate purchases and lift near-term demand. At the same time, US domestic production is still constrained, while housing-related consumption remains structurally large, with softwood lumber and engineered wood products heavily used in new construction. Each new home requires roughly 15,000 board feet of lumber plus extensive engineered wood products, keeping baseline consumption elevated even in a softer housing cycle. [END]
A closely watched inflation report is set to reveal how much price growth picked up in May — and whether many American consumers remain mired in an affordability crunch. Wall Street forecasters expected the pace of personal consumption expenditures (PCE) to have quickened compared with April data amid higher oil prices and stronger consumer spending. The monthly PCE report is the Federal Reserve’s preferred inflation gauge. New Fed Chairman Kevin Warsh has said the central bank is committed to bringing inflation back to its 2% target — a level it has failed to reach for the past five years. Wall Street now anticipates the Fed will raise its key interest rate at least once by year’s end in a bid to counteract the stronger price growth.
China remains one of the world’s major importers of softwood logs and lumber, but its 
While supply concerns are still weighing on housing affordability, a combination of soaring prices and economic uncertainty is dragging on housing demand, according to the annual 
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.
A bipartisan bill in the US House is calling for additional incentives to use of mass timber building materials in federal contracting. Introduced by House Ag Committee Chair Glenn Thompson (R-PA) and Andrea Salinas (D-OR), the 
Mass timber is often promoted as an environmentally friendly building material, and in many cases that reputation is deserved. A grounded way to view that claim is through actual building systems, and 
British Columbians are subsidizing the province’s forest companies to the tune of tens of millions of dollars each year under a government program that defrays the cost of shipping logs from remote forests to distant mills. In 2023, logging companies received nearly $33 million in public funds to underwrite the costs of hauling “low-value” logs to wood pulp and pellet mills. …The subsidies are posted online by the Forest Enhancement Society of BC, or FESBC, an organization created and funded by the provincial government and that reports to Forests Minister Ravi Parmar. The society’s mandate includes “preventing and mitigating the impact of wildfires” and “improving habitat for wildlife.” But many FESBC funds simply underwrite the increasing costs of hauling logs. Those expenses have been marching upward as logging activities push farther into the hinterland. That has some questioning whether the funding is accelerating the logging of forests, rather than enhancing them.
Way back in 1995 Bob Brown, the Republican president of the Montana Senate, called me into his office. He had co-sponsored a bill with a pro-logging Missoula Democrat to establish a “sustained yield” level of logging on Montana’s state trust lands – and he was worried it wasn’t working out the way he hoped. Bob was right to be worried then and Montanans are right to be worried now because Trump’s Forest Service Chief and former timber industry lobbyist Tom Schultz, has just unleashed the “sustained yield” scam on Montana’s National Forests. …My advice to Bob was to let the bill die because he didn’t have the votes to remove the amendments the timber industry lobbyists stuck on the bill. But he didn’t take that advice. …Two years later, Tom Schultz went to work for Montana’s Department of Natural Resources and Conservation, earning the sobriquet “Chainsaw Tom” for his pro-logging zeal.
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.