Canada Unveils New Support for Lumber Industry

On Wednesday, Canadian Prime Minister Mark Carney announced new federal support for the country’s lumber and steel industries, which have been hit by US tariffs, the Associated Press reported (11-26-25).

Carney’s plan tightens the quota on steel imports from countries without free-trade agreements with Canada, reducing the cap from 50% to 20% of 2024 levels.

He also announced an additional CA$500 million (US$356 million) in loan guarantees for the softwood lumber industry, alongside measures aimed at encouraging homebuilders to use domestically produced materials.

Beginning next spring, the federal government will also subsidize freight costs on rail shipments of lumber and steel across provincial borders. “We will make it more affordable to transport Canadian steel and lumber across the country by cutting freight rates,” Carney said.

Carney noted he will be in Washington on December 5 and plans to speak with President Donald Trump. “We are ready to re-engage on those talks when the United States wants to re-engage,” he said.