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Canada readies $1B aid package for forestry industry

The U.S. is taking a "hard look" at a $1 billion dollar aid package the Canadian government is preparing to assist its forestry industry. The assistance is meant to offset $8 billion in subsidies given to U.S. as part of the 2006 Canada-U.S. softwood lumber agreement and will focus on ways to help forest companies become more environmentally efficient. This approach would take advantage of a so-called “safe harbour” clause within the agreement that permits government funding for environmental management, protection and conservation, as long as it does not affect timber prices.

2:34 pm June 15, 2009 | | RSS 2.0 |
June 15, 2009