The Canadian government will pay out C$95m to help the country’s lumber industry as it suffers under heavy US duties.
Funds will be spent on research and development, expansion of alternative markets and public relations and lobbying activities to promote Canada’s position in the trade dispute with the US.
A total of C$30m will go towards expanding markets outside the US, with targets including China, India, Taiwan and South Korea, while C$11m will go to lumber associations for an information campaign in the US to promote a resolution of the dispute.
The government is considering a second phase of loan guarantees or other forms of help for companies hurt by the duties.
