Carney Pledges $870 Million for Lumber Sector Hit by Trump (2)

Prime Minister Mark Carney promised as much as C$1.2 billion ($870 million) to shore up Canada’s lumber industry, which has been hit hard by US duties that are about to significantly increase.

Carney said Tuesday that up to C$700 million in loan guarantees will help forestry companies of all sizes maintain and restructure their operations. He also pledged C$500 million in grants and contributions for product development and market diversification.

“Canada does not dump lumber into the United States, and we will continue to make the case that these current and proposed duties are unjustified,” Carney said in West Kelowna, ...