Government of Canada acts to protect Canadian softwood lumber jobs, announces support to lumber company
News release
July 28, 2026 - St-Léonard, Quebec - Department of Finance Canada
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.
Quotes
"The softwood lumber industry is a key pillar of Canada's highly integrated forest sector, and a source of good-paying jobs in communities across the country. However, ongoing U.S. tariffs continue to place significant pressure on Canadian producers, reducing exports and profit margins. This support will provide Arbec with the support they need to maintain operations, protect jobs, and adapt their business to remain competitive in a changing global market."
- The Honourable François-Philippe Champagne, Minister of Finance and National Revenue
"Canada's forests are the foundation for good jobs, affordable housing, and sustainable economic growth from coast to coast to coast. At this moment of global instability, we are supporting and stabilizing the industry today, while positioning it to thrive for tomorrow. Our government is proud to support Arbec, who create good Canadian jobs and are leading in world-class Canadian forest products."
- The Honourable Tim Hodgson, Minister of Energy and Natural Resources
Quick facts
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This loan will be provided by the Canada Enterprise Emergency Funding Corporation through the Large Enterprise Tariff Loan facility.
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In March 2025, the government announced the creation of the Large Enterprise Tariff Loan (LETL) facility, a $10 billion financing facility to support Canadian companies affected by actual or potential tariffs and countermeasures.
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Canada's forest sector is a major economic driver, supporting nearly 200,000 workers, including over 11,000 Indigenous Peoples, and contributing more than $20 billion to our GDP.
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Contacts
Media may contact:
John Fragos
Press Secretary
Office of the Minister of Finance and National Revenue
john.fragos@fin.gc.ca
Media Relations
Department of Finance Canada
mediare@fin.gc.ca
613-369-4000
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