In 2025, trade policy added clear financial pressure, especially for Canadian sawmills. Average duties on lumber shipped to the US rose from 14% to 35% last summer. A 10% Section 232 tariff was then implemented in October. …This year, the picture is less about a single sharp increase and more about unresolved uncertainty. …The effects reach different parts of the market in different ways. Canadian mills face higher effective production costs due to increased duties and tariffs and industry rationalization, particularly in BC, is likely to continue. …US mill operators sit on the other side of this. They will likely continue to gain market share this year due to higher duties and protective measures, despite flat demand. Wholesalers, traders and importers are affected by tariff changes, shifting freight conditions and supply availability. …Secondary manufacturers and housing-linked buyers… most goods still face tariffs, placing further pressure on builder margins, including higher wood products prices.