Prime Minister Mark CarneyÎÚÑ»´«Ã½ government is preparing financial supports for the forestry sector as the U.S. ratchets up duties on Canadian softwood lumber.
The announcement came Tuesday morning at GormanÎÚÑ»´«Ã½ Mill in West ÎÚÑ»´«Ã½.
Carney is promising an aid package for the industry that includes $700 million in loan guarantees and $500 million for long-term supports to help companies diversify export markets and develop their products.
It comes in the wake of heightened trade tensions with the U.S. over softwood lumber, a longtime point of friction in the Canada-U.S. trade relationship.
The U.S. Commerce Department recently announced it intends to hike anti-dumping duties on Canadian softwood to just over 20 per cent.
ThatÎÚÑ»´«Ã½ a marked increase since the last time the U.S. reviewed the rate, which previously was just over 7 per cent.
The prime minister also says the government will introduce a training program for workers which will include some $50 million for the forestry sector.
CarneyÎÚÑ»´«Ã½ surprise visit to ÎÚÑ»´«Ã½ included a meeting with Premier David Eby. On Sunday, he participated in VancouverÎÚÑ»´«Ã½ Pride parade.
On Monday, his tour continued at the Canadian Forces Maritime Experimental and Test Ranges near Nanoose Bay, including a walkthrough aboard the Navy vessel Sikanni.
See feature coverage on CarneyÎÚÑ»´«Ã½ West ÎÚÑ»´«Ã½ visit in SaturdayÎÚÑ»´«Ã½ Courier.