The global trade landscape is rapidly changing as the United States fundamentally transforms all of its trading relationships. While Canada retains the best overall deal of any U.S. trading partner, the impact on key sectors like softwood lumber is profound. That is why the government has introduced targeted measures to support Canada's softwood lumber industry, protect Canadian jobs, and strengthen domestic industrial capacity.
Today, the Honourable François-Philippe Champagne, Minister of Finance and National Revenue, announced that the federal government is providing a $60 million loan to Arbec Bois d'œuvre Inc. through the Large Enterprise Tariff Loan facility. The funding will help the company maintain operations, transition to a business model less reliant on the United States, and limit disruption to its workforce.
Arbec operates eight plants in Saguenay-Lac-Saint-Jean, Mauricie, Côte-Nord. Operations include sawmilling, planning, drying, and finger joints. The company employs nearly 800 people.
The softwood lumber industry is an important sector of the Canadian economy, supporting thousands of jobs and families in communities across Canada and creating many positive spin-off effects in related industries and services.
