Carney Pledges $870 Million for Lumber Sector Hit by Trump

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.