Canada’s new government will double the pace of homebuilding to almost 500,000 new homes a year over the next decade. That alone will double the use of Canadian softwood lumber in residential construction – an increase of almost 2 billion board feet – and it will double demand for structural panels – an increase of almost 1 billion square feet.

Canada will provide up to C$1.2 billion to help softwood lumber producers deal with U.S. countervailing and anti-dumping duties, Prime Minister Mark Carney said on Tuesday.

Carney made his comments in West Kelowna on Tuesday (Aug. 5), while announcing a series of new measures to help the softwood lumber industry transform to remain competitive. "Together, we're going to write our own story rather than let others dictate theirs to us,

Finance Minister François-Philippe Champagne and Foreign Affairs Minister Anita Anand are in Mexico to meet with President Claudia Sheinbaum as the Canadian government looks to boost economic ties with its ally amid a trade war with the United States.

Philippe Champagne and Foreign Affairs Minister Anita Anand were in Mexico to strengthen the countries’ relationship, days after the United States hit Canada with higher tariffs.

We have the trade deal with the United States, Canada and Mexico... There is no need,' Mexican President Claudia Sheinbaum said Wednesday.