CUSMA has served as a critical backstop for Canada-US trade amid the US administration’s aggressive tariff stance. Product-specific measures (steel, aluminum, autos, lumber, etc.) have hurt Canada’s economy, but about 90% of US imports from Canada have remained duty free largely thanks to CUSMA. …While no agreement was reached on July 1 to extend CUSMA, the deal doesn’t expire until 2036, and tariff rates don’t change as a result. Indeed, the renewal process built into CUSMA anticipated that extending the agreement could be politically challenging. Therefore, it requires all three parties to begin negotiating a decade before its 2036 expiry—a process that formally begins now. Near-term trade risks for Canada haven’t gone away. …But, we continue to view the outright termination of CUSMA as unlikely. Decades of free trade in North America leaves strong incentives to preserve the deal. Indeed, in the proposed U.S. Section 301 measures, CUSMA exemptions were preserved again.
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 surprised no one with its long-expected announcement Wednesday that the U.S. would not join Canada and Mexico in extending the free trade deal between the three countries. Where things go from here, however, with renegotiating the Canada-United States-Mexico Agreement is anyone’s guess. One thing is certain: the deal remains in effect while the negotiations happen, as it doesn’t expire for another 10 years. The only circumstance that would change that is an official six-month notice of withdrawal, something Trump has stopped short of threatening to do. Domestic political concerns keep the White House from scrapping the trade agreement, according to Simon Lester, a trade expert at Rice University in Houston, Texas. He says CUSMA has broad support from Republicans in Congress, particularly those from agricultural states. …On paper, according to the text of CUSMA, the three sides could now enter a perpetual series of renegotiations every year.
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]
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.
Ottawa, ON – The Canadian Wood Council (CWC) is pleased to announce that Philippe Clune was appointed to the role of Board Chair at the organization’s Annual General Meeting today. Clune succeeds Kevin Pankratz, who has completed his term as Chair after providing dedicated service to the organization and Canada’s wood products sector. “On behalf of the CWC, I would like to thank Kevin for his leadership and valuable contributions during his tenure as Chair,” said Derek Nighbor, President and CEO of the CWC. …Nighbor also welcomed Clune to the role. “As Vice President of Sales & Marketing at Domtar, Philippe brings extensive industry knowledge, strategic insight, and a commitment to advancing the use of wood in the built environment,” said Nighbor. “I look forward to working with him as we continue strengthening CWC’s role as a national voice for the wood products industry and delivering value for our members and partners.”
Researchers at the University of Northern British Columbia (UNBC) have received a grant to conduct studies on earthquake-resilient buildings, food packaging, forest diversity and more. The $866,000 granted to five faculty members is being supported through the Natural Sciences and Engineering Research Council of Canada (NSERC) Discovery grant program. …Erin Crockett, ecosystem science and management assistant professor, is receiving $202,000 over the five years to examine “how tree species diversity and structural complexity influence forest growth and resilience in British Columbia.” …Fei Tong, assistant engineering professor, is receiving $190,000 over five years to develop “a new structural system for tall buildings in seismically active regions like Vancouver… The approach, which will be adapted for both conventional construction and tall mass timber buildings, aims to keep buildings safe, functional, and repairable after major earthquakes.”
BC Supreme Court Justice Barbara Young sent a chilling message to BC landowners when she refused to reopen the case where she designated Aboriginal title over private land in Richmond. Montrose Properties argued it had never received any formal notification that its fee-simple title could be affected by the outcome. This being the first case where Aboriginal title was applied to private as well as Crown land in BC, the federal, provincial and Richmond city governments all supported reopening the application. …Young didn’t rule out that the Cowichan Nation might someday seek to take over all the private land included in the designation of Aboriginal title. …It will be months and maybe years before her findings and those of the New Brunswick court are reconciled. …In the interim, Young has put provincial landowners on notice that they… are at risk from a claim of Aboriginal title.
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.
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…
As part of ongoing work to diversify trade, Premier David Eby is leading a trade mission to China to strengthen commercial ties with the province’s second-largest trading partner and explore new opportunities to support good-paying jobs for people in British Columbia’s forestry, energy, tourism and agriculture sectors. … “China is the world’s second-largest economy and is our second-largest export market for B.C. goods and services. Encouraging tourism while selling more B.C. wood, agricultural products and energy will mean more money for families and more money to pay for the services British Columbians deserve,” said Premier Eby. …British Columbia and China share a longstanding partnership with collaboration across a range of areas from sustainable forest management to wood construction innovation and clean energy.
CN Rail has been fined $435,000, having been found responsible for causing a wildfire near Spences Bridge a year after the nearby town of Lytton was devastated by a catastrophic wildfire. According to a June 17 BC Forest Appeals Commission decision, CN Rail was found to have caused a wildfire that burned outside of Spencers Bridge in September 2022. Last year, the BC government issued a $435,371 fine to the company. Broken down, the fine covered $60,000 for damaged or destroyed mature Crown timber, $27,000 for damaging or destroying forest and grassland resources, and a further $348,000 to cover the cost of controlling wildfire K72249. “During their investigations, Natural Resource Officer Service staff collected field information and photographs and obtained recorded statements from several eyewitnesses. As a result of their investigation, the Natural Resource Officer Service alleged that CN Rail had contravened… BC Wildfire Regulation(s),” the decision reads.
Forestry Innovation Investment’s 2025/26 Year in Review is now available. It is a compilation of market development activities completed by FII and our many industry, association, government, academic and research partners over the past year. We are committed to a collaborative delivery approach, building on the strengths and shared resources that other organizations bring to this important work. The forest sector continues to face challenging market conditions and ongoing trade uncertainty. As we adapt to these pressures, diversification remains central to strengthening the sector. By expanding markets and making the most of B.C.’s forest resources, FII and its partners are supporting long-term resilience. This includes advancing wood use in B.C., supporting growth in mass timber and prefabricated construction, and pursuing opportunities across international markets. The report includes the range of work underway, and the milestones achieved over the past year. 
HUNTSVILLE, Ontario — The Ontario government is investing an additional $425,000 through the Forest Biomass Program to help Daiken North America accelerate production of its new laminated board. This investment will help get a first-of-its-kind wood panel product to market faster, boosting productivity and protecting good-paying local jobs. As part of its plan to protect Ontario, the government is making strategic investments to help forest sector businesses adapt, compete and grow to stay resilient in the face of U.S. tariffs. Today’s announcement builds on the government’s recent investment of 
BELLEVILLE, Ontario — The government is investing more than $3.3 million in 
SALT LAKE CITY — A group of unions, environmental and civic organizations, and local governments has filed a lawsuit challenging the planned restructuring of the U.S. Forest Service, which includes moving the agency’s headquarters to Salt Lake City and closing regional offices and research facilities. The plaintiffs are alleging that the reorganization would impair the Forest Service’s ability to manage national forests, and they are seeking a preliminary injunction to prevent the USDA administration from moving forward with its reorganization plan. …The lawsuit was filed by Democracy Forward on behalf of more than 30 groups, including the American Federation of Government Employees and American Federation of State, County and Municipal Employees, which represent the USDA employees that will be impacted by the reorganization. The lawsuit alleges that restructuring the Forest Service in this way will reduce the agency’s capacity to sustainably manage national forests and engage in fire response and prevention efforts.
WASHINGTON – President Trump said he hasn’t decided whether he will sign a bipartisan housing bill, dismissing the landmark affordable housing legislation as “a big yawn” and “so unimportant” compared to an unrelated bill he supports to overhaul voting in elections. Trump told reporters on Monday, June 29 that he won’t make a decision on The 21st Century Road to Housing Act until it arrives on his desk. The president abruptly canceled a signing ceremony last week for the housing bill and said he won’t sign it until Congress passes the SAVE America Act ‒ a stalled bill he backs that would require photo identification and proof of citizenship to vote in federal elections and prohibit universal mail-in voting across the country. …The housing bill is the first major piece of legislation that passed Congress in more than three decades to address the nation’s affordable housing crisis.
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 
The U.S. Endowment for Forestry and Communities today launched a Request for Proposals (RFP) to assess the feasibility of repurposing closed wood products manufacturing facilities, including pulp and paper mills, for bioenergy. The initiative will make available up to $500,000 in pre-development funding to support one or two facilities across the United States. Across the country, idled wood products facilities have left behind industrial infrastructure, utility connections and skilled workforce capacity at a time when forest-dependent regions are urgently seeking new economic anchors. Since 2015, more than 40 U.S. pulp and paper mills have closed, removing roughly 60 million green tons of annual wood demand from rural communities. The Endowment’s market initiative seeks to determine whether these sites can be reactivated as biopower generation or biofuel production facilities, creating new markets for low-value wood fiber and supplying renewable energy to a growing economy.
Two new inspections into kraft pulp and paper mills in Washington have been opened, following ongoing investigations at the Nippon Dynawave mill where a tank failure killed 11 workers. The Washington State Department of Labor & Industries said investigations are going on at two other active paper mills in the state that use the same process, where caustic chemical compounds are used to help break down wood into pulp for paper product manufacturing. In the weeks following the implosion of a massive tank at the paper mill that spilled hundreds of thousands of gallons of chemicals – believed to be the deadliest industrial accident in state history – managers of similar operations have been dialing up their insurance brokers to find out how well they’re protected. One investigation is occurring at a mill run by Smurfit Westrock, also in Longview. The other, run by Port Townsend Paper Company, is in Port Townsend.
Federal law allows utilities operating on national forest land to remove hazardous trees only within 10 feet of a power line. In Western forests, where trees routinely reach 100 feet tall and a single ignition can drive hundreds of thousands of acres of destruction, 10 feet is not a safety standard — it is a disaster waiting to happen. The Fix Our Forests Act would extend that authority to 150 feet, alongside streamlined federal permitting for wildfire mitigation work and tighter judicial review timelines on fuel-reduction projects… The bill has cleared the House by a 279-141 vote and passed the Senate Agriculture Committee by a vote of 18 to 5 … Utility operators across the West are calling for it. But it does not have the support of Sens. Ron Wyden and Jeff Merkley (D-Ore.). …The community-owned utilities I represent … don’t have a stake in what gets logged. But they do have a stake in whether the lines stay up when fire moves through…
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.
Cepi’s 
NEW ZEALAND — PF Olsen and Forest360 have merged to become New Zealand’s biggest independent forestry manager, trading as Stand Forestry. The companies announced their merger late last year, backed by new investment from Adamantem Capital’s Environmental Opportunities Fund and supported by PF Olsen’s Quayside Holdings. …The new brand will combine 75 years’ experience, a workforce of more than 200 skilled professionals and 480,000ha of forestry under management on both sides of the Tasman, the companies said. …The company recently launched a new carbon joint venture model in New Zealand to make it easier for farmers and landowners to participate in the Emissions Trading Scheme. …The merged group has more than 1000 clients, from major institutional investors to family-run businesses and private landowners. PF Olsen also has a large operation in Australia, managing 212,000ha.
