WASHINGTON — A major benchmark is coming up for the Canada-U.S.-Mexico Agreement on trade, known in Canada as CUSMA. July 1 is the deadline for the three countries to either formally extend the agreement for 16 years or continue under annual reviews. …What happens if there is no extension on July 1? The trade pact will remain in place even if the United States doesn’t agree to extend CUSMA on July 1. Peisch said CUSMA will continue for another 10 years before “automatically terminating if the parties can’t come to agreement on extension.” In the near term, Peisch said, the countries will continue to negotiate possible changes to the agreement that could lead to an extension. …Can a country leave CUSMA? If the United States does not agree to the extension on July 1, the trade agreement stays in place unless one of the countries gives six months’ notice that it is pulling out of CUSMA.
- Related coverage by Ritika Dubey, the Canadian Press: RBC CEO downplays tensions, confident Canada-U.S.-Mexico trade will last
NEW YORK — BTG Pactual Timberland Investment Group, timberland investment managers, announced the acquisition of approximately 90,000 acres of US timberland formerly managed by Jamestown, a global design-focused real estate investment and management firm. …The portfolio of high-quality timberland spans five U.S. states, including approximately 50,000 acres of pine timberland in Georgia and Alabama and approximately 40,000 acres of diversified hardwood timberland across Indiana, Pennsylvania, and New York. All properties are certified under the Sustainable Forestry Initiative (SFI). The acquisition increases BTG Pactual TIG’s core U.S. timberland strategy’s portfolio to more than 1.7 million acres. The firm manages 3.3 million acres globally. The transaction creates further opportunities for BTG Pactual TIG to scale positive conservation outcomes through its long-term collaboration with The Nature Conservancy (TNC), Conservation Advisor to the firm’s core U.S. timberland strategy.
Global oil prices fell on Monday following news of a tentative deal between Iran and the U.S. to extend their ceasefire agreement and reopen the Strait of Hormuz, but a veteran oil watcher doesn’t see crude prices returning to pre-war levels anytime soon. Eric Nuttall, partner at Ninepoint Partners, said that traders are trying to determine where the price of oil will settle out in the coming days and weeks, as many key details about the deal still need to be ironed out. …Nuttall noted that even if the strategically important Strait of Hormuz is fully reopened as a result of the Iran-U.S. deal, it will take time for oil markets to recover from the volatility of the last three and a half months. …In addition to the logistical backlog and supply chain disruption, the war in Iran has caused extensive damage to petroleum facilities across the Middle East, Nuttall explained.
A top US Customs and Border Protection (CBP) official told Court of International Trade (CIT) Judge Richard Eaton on 9 June that the agency is still creating a process for refunding tariffs that involve more complex entry types and that have been finally liquidated (i.e., are more than 90 days post-liquidation) in the Consolidated Administration and Processing of Entries portal. “We can’t do it all at once,” CBP Executive Assistant Commissioner Susan Thomas testified. ….The US Trade Representative (USTR) is 
This month, consumer sentiment ticked up about four index points, or 9%, with consumers experiencing some relief due to the early-month easing in gasoline prices. This measured improvement in sentiment was widespread, seen across age, education, and political party. Lower-income consumers exhibited a particularly strong sentiment increase, consistent with the fact that gasoline comprises a larger share of their budgets. Overall, assessments and expectations of personal finances and business conditions all rose this month. Even with June’s early gains, however, views of the economy are still relatively dour. Sentiment is currently 13% below January 2026 and 19% below a year ago, as consumers remain focused on kitchen table issues. They feel burdened by the recent escalation in inflation and worry that higher inflation could remain stubborn going forward, particularly in the short run. Interviews for this release were completed between May 19 and June 8.
Steel keeps losing the green building conversation on a technicality. Most lifecycle comparisons published in industry media compare materials on cradle-to-gate embodied carbon and walk away. Steel comes out heavy. Wood comes out light. Concrete sits somewhere in the middle. The reader files steel away as the carbon-heavy choice and moves on. The problem with that framing is not the numbers themselves. It is what gets left out of the calculation. A building exists for decades. Materials behave differently across that span. End-of-life recycling rates vary by an order of magnitude. None of that shows up in the cradle-to-gate snapshot that gets quoted in most green building pieces. …What the analysis does argue is that the cradle-to-gate number cited in most green building media tells less than half the story. …The broader lesson is that sustainable construction decisions should be based on whole-building lifecycle assessment rather than a single embodied-carbon number. 
Three years ago, the Ontario Building Code required that any developer taking on a mid-rise wood-frame building had to construct stairwells out of non-combustible material. That was expensive. It made construction challenging, and, according to the Canadian Wood Council, resulted in a lower adoption of wood-frame building. Since that requirement was removed in 2023, allowing full buildings to be constructed with wood, interest in mid-rise wood-frame building has increased considerably, especially for residential builds, said Hailey Quiquero, with the WoodWorks Ontario program, an initiative of the Canadian Wood Council. “Now, in our market, we’re sitting at around 50% of five- and six-storey buildings being built out of wood construction, so a great jump,” Quiquero said. “We’ve still got a long way to go. In BC, I think it’s greater than 80% of this market.” …Currently in Ontario, mid-rise wood-frame building is largely being used in residential projects, Quiquero said.
Timber frame homes built in as little as five days could be a way to increase the pace of housebuilding in London, some of the capital’s largest construction companies have heard. Industry leaders travelled to Scotland to learn how the housing is produced, from sustainable forestry through to completed homes, as developers and ministers look for ways to increase the number of homes in the city. Scotland has adopted timber frame construction on a greater scale than England. About 92% of new homes north of the border are built using timber frame, compared with 13% in England. Andrew Orriss, of the Structural Timber Association, said: “Scotland builds faster, greener, and more efficiently than England. …“And the reason is timber frame. …Mayor of London Sir Sadiq Khan has a target to build 88,000 new homes per year. …In Britain, structural timber are only permitted to a maximum height of 18 metres, or up to 6 storeys.
LAKE COWICHAN, BC — Pumps will likely be required to sustain the river if dry conditions continue through the summer, according to Brian Houle, environment manager for Domtar Crofton Mill. Though the mill has shut down, Domtar remains the licenced operator. As of a June 4 report issued by Houle, Cowichan Lake has dropped to 80% capacity and the below-average snowpack has already fully melted. Updated modelling for the remainder of the year was analysed at a meeting of regulators and Cowichan Tribes on June 3. Domtar was guided to begin to reduce the flow to below 7.08 cubic meters per second (cms). …With no relief in sight, there’s been a push for a larger replacement weir to store more water in the lake to reduce the need for emergency pumping. …Domtar has been authorized to have qualified professional biologists monitor the river conditions. 
The Agriculture Department is making an ultimatum to thousands of its employees as part of its sweeping relocation plans — move to keep their jobs or quit. USDA is embarking on a multi-part reorganization plan that involves relocating more than half of its D.C.-area workforce to hubs across the country by the end of this summer. Employees impacted by these relocation plans work at the Food Safety and Inspection Service, Forest Service, Economic Research Service, National Institute of Food and Agriculture, and Food and Nutrition Service. …The memo also states that NASS and all components under USDA’s research, education and economic mission area will offer buyouts and early retirement to employees who received relocation notices. The Forest Service told employees earlier this month that it will offer Voluntary Early Retirement Authority (VERA) and Voluntary Separation Incentive Payments (VSIP) to staff impacted by its relocation plans.
Connecticut’s Department of Energy and Environmental Protection (DEEP) announced two federally funded grant programs totaling $1.23 million for urban and community forestry projects, with application deadlines in August 2026. The programs are available through DEEP’s 
NEW BRUNSWICK — On the morning of May 26, a provincial air quality monitoring station on the west side of Saint John began registering unusual readings. …There was no special public notification about the west side spike, even though the environment department watched it develop and was concerned enough to launch an immediate investigation to determine the cause. …The department, in emails, said it believes operations and maintenance work at the Irving Pulp & Paper mill could have been a contributing factor. …“The cause appears to be a combination of unusual weather, which trapped pollutants at ground level rather than dispersing them upward, combined with higher than ordinary emissions during a cleaning/maintenance cycle at the mill.” J.D. Irving said there is “no concrete way to confirm” it caused the poor air quality readings but said adjustments in mill operations were made at the time to be on the safe side.
