Category: Economy

Key Takeaways:

• The BC 2026 Budget Committee formally recommended accelerating the implementation of Prompt Payment laws, marking a significant step toward aligning BC with other provinces and addressing chronic late payments in the construction industry.
• The report calls for increased capital infrastructure spending, expanded funding for construction-related education and training, and a review of BC’s mandatory paid sick leave policy to better support industry needs.
• Recommendations include improving public sector procurement through fairer tendering, clearer contracts, and better alignment across ministries and Crown corporations.

The Whole Story:

The BC construction industry is welcoming a formal recommendation to accelerate Prompt Payment legislation, included in the Standing Committee on Finance and Government Services’ Report on the 2026 Budget Consultation. The recommendation responds to longstanding calls from the BC Construction Association (BCCA) and industry leaders seeking improved payment timelines, workforce support, and procurement reform.

The BCCA’s president, Chris Atchison, presented to the committee earlier this year, emphasizing a set of core priorities: improving public sector procurement, increasing investment in infrastructure, and addressing workforce challenges in construction. All three areas were directly acknowledged in the committee’s final report.

The headline recommendation—formally urging government to “accelerate the implementation of Prompt Payment legislation”—was supported by multiple submissions and recognized as a critical step to improve payment certainty across the sector . BCCA praised the inclusion, noting that “payment certainty will have a real and positive impact on the industry and the hardworking women and men who make it all possible.”

In addition to Prompt Payment, the report included recommendations to:

• Increase capital infrastructure investments to drive economic growth;
• Expand funding for construction-related education and training programs;
• Review and potentially restructure BC’s five-day mandatory paid sick leave policy, which has raised concerns in some industry submissions ;
• Improve procurement practices, including fairer tendering, contract clarity, and alignment across ministries and Crown corporations .

In a statement, BCCA welcomed the report’s alignment with industry priorities and said it looks forward to continuing work with the provincial government to advance critical reforms.

“Now is a critical time for BC to build — and the construction industry has a key and leading role to play,” the association said. “The report’s reference to the industry’s priorities, areas of focus, and pressure points is an important acknowledgement of the work and initiative required by the provincial government to keep BC strong and resilient.”

The report will inform the province’s 2026 budget development, expected in early next year’s legislative session.

Ontario was the first province to pass prompt payment and adjudication rules under the Construction Act, which came into force in 2019. Since then, Alberta, Saskatchewan, and Nova Scotia have enacted similar legislation, creating statutory timelines for payment and introducing dispute resolution mechanisms to speed up conflict resolution.

Quebec has operated a pilot project for prompt payment on public projects, while Manitoba passed legislation in 2023 but has yet to bring it into force. Federally, the Prompt Payment for Construction Work Act applies to contracts with the Government of Canada, and regulations came into effect in late 2023.

In contrast, B.C. has consulted on the issue for years but has not passed legislation—making the 2026 Budget Committee’s formal recommendation a notable turning point in aligning BC with other provinces that have already moved to address chronic late payments in the construction sector.

A movement is growing across Canada amongst developers to relax foreign buyer rules.

They say that this will jumpstart housing projects during a historic slowdown, as these buyers are critical for creating cash flow that gets shovels in the ground.

Where it’s hurting: The housing market slump has been shocking. Condo sales across Canada have sharply declined, with Toronto experiencing a 75% drop and Vancouver a 37% decrease between mid-2022 and Q1 2025, according to CMHC. 

Here’s how Urbanation President Shaun Hildebrand summed it up: “The market has entered a phase of the downturn that is really starting to wreak havoc. Project cancellations are mounting, construction starts are collapsing, jobs are being lost, buyers are losing a lot of money, and developers are facing difficulties with closings. 

What developers want: A coalition of developers and industry groups warns that Canada’s federal foreign homebuyer ban and local policies like B.C.’s provincial foreign buyer tax are not helping and noted that foreign investors—who account for about 10% of buyers in the new condo market—are often key to meeting pre-sale thresholds that secure construction financing. 

Behind the ban: The ban was implemented to curb soaring home prices. The federal government argued that foreign money has been coming into Canada for years to buy up residential real estate, increasing housing affordability concerns in cities across the country, and particularly in major urban centres. 

When the ban was extended to 2027, Chrystia Freeland, the Minister of Finance at the time, said this:  “By extending the foreign buyer ban, we will ensure houses are used as homes for Canadian families to live in and do not become a speculative financial asset class. The government is intent on using all possible tools to make housing more affordable for Canadians across the country.”

Academic disagreement: A coalition of Vancouver-based urbanists, planners, architects, developers, and academics argued in their own letter that Canada’s housing crisis is fundamentally about affordability, not just supply. They contend that simply building more homes—particularly high-density market units—has failed to curb prices. They conclude that instead of bailing out speculative developments or reintroducing foreign capital to boost demand, government should use the current market correction to invest in non-market housing; preserve existing rental stock, and tie public subsidies to long-term public benefits. 

Here’s what other data and experts are saying:

• A UBC study found that after B.C. introduced its 15% Foreign Buyers Tax, single-family home prices in neighbourhoods with above-average foreign buyer activity fell about 6% more than in other areas. But multifamily prices were unaffected and researchers concluded that housing affordability is a complex problem with no quick fixes.
• According to the Real Estate Institute of Canada, the issue is nuanced, and foreign capital has had localized effects. In luxury segments of Vancouver and Toronto, foreign buyers likely inflated prices at the margin as they often paid higher than both non-investors and domestic investors.
• The institute added that they believe the real culprits for extreme prices have been low interest rates, domestic speculation, dual-income households, and underbuilding.
• Real estate analysts argue that the ban has not made much difference in terms of house prices or availability, noting that foreign investors often focus on the luxury market. They believe that prolonging the ban will not make housing more accessible.
• According to the 2022 data from Statistics Canada’s Canadian Housing Statistics Program (CHSP), foreign owners held just 2% to 6% of all residential properties across Canada. But developers say they make up roughly 10% of new condo buyers.  

Finding consensus beyond Canada: Developers in Canada have cited Australia as an example of finding a middle ground. Down Under, foreign buyers are temporarily banned from purchasing existing homes but are encouraged to invest in new housing, with the aim of directing capital into supply creation. This is reinforced by supply-side supports like tax incentives for build-to-rent, government-backed pre-sale finance guarantees, and dedicated funding for modular construction.

Key Takeaways:

• Build Canada Homes would target major affordable housing projects — 300+ units or portfolios — instead of many smaller builds, using federal financing, land, and development capacity to accelerate delivery.
• The program aims to speed timelines and cut costs by promoting modular, prefabricated, low-carbon, and net-zero building methods, with a preference for Canadian-made materials.
• Success hinges on collaboration with provinces, municipalities, Indigenous governments, and private partners, with public funding tied to measurable housing outcomes and shared financial risks.

The Whole Story:

The federal government has released new details on its flagship Build Canada Homes program, outlining a national plan to rapidly increase the supply of affordable housing while modernizing construction methods.

In a market sounding guide published this week, the government describes Build Canada Homes as a new federal entity that would finance and build affordable homes, act as a single-window partner for large-scale projects, and push the sector toward faster, more efficient building techniques. Feedback on the proposal is being sought until Aug. 29.

The program’s stated objectives include building affordable housing “at scale” for groups underserved by the private market — such as working families, students and seniors on fixed incomes — and “building faster, better and smarter” by promoting modular, prefabricated and low-carbon construction.

Under the proposal, Build Canada Homes would focus on a small number of large deals, such as projects with 300 or more units or portfolios of developments, rather than dispersing funds across many smaller builds. It could finance projects through low-interest loans, equity investments, contributions, and loan guarantees, while also acting as a developer or facilitator by bringing together land, financing, and partners.

The investment approach would tie the level of federal support to housing outcomes, with higher contributions for projects that deliver more units or deeper affordability. The plan also calls for sharing financial risks and rewards with private partners, prioritizing Canadian-made materials, and leveraging public dollars to attract private and philanthropic capital.

Partnerships with provinces, territories, municipalities, Indigenous governments, and private sector players are described as critical to success. The guide also signals an intent to coordinate with local governments to speed up permitting and servicing, and to align with existing provincial and territorial housing programs.

Prime Minister Mark Carney has promoted Build Canada Homes as a signature policy aimed at tackling the country’s housing shortage. The initiative is framed as a response to rising construction costs, capacity constraints, and the need for climate-resilient, net-zero housing.

Written submissions on the proposed design can be sent to the government until late August. The final structure of Build Canada Homes is expected to be shaped by the feedback received.

Key Takeaways:

• Fluor Corp. and JGC Corp. have been awarded a contract to update engineering and design for a potential Phase 2 expansion of the LNG Canada terminal in Kitimat, B.C.
• LNG Canada, backed by major global energy companies, is Canada’s first large-scale LNG export facility with a capacity of up to 14 million tonnes annually; Phase 2 would further boost processing, storage and shipping.
• A final investment decision on Phase 2 has not yet been made, despite the recent completion and first shipment from Phase 1.

The Whole Story:

Fluor Corp. says its joint venture with Japan’s JGC Corp. has been awarded a contract to update the front-end engineering and design for a proposed second phase of the LNG Canada export terminal in Kitimat, B.C.

The U.S.-based engineering firm did not disclose the value of the deal, which it recorded in the second quarter of 2025. The award comes shortly after the first LNG shipment left the facility, marking the completion of Phase 1. The JGC-Fluor partnership has worked on the project since 2018, handling engineering, procurement, construction and commissioning for the initial build.

Located on the traditional territory of the Haisla Nation on B.C.’s north coast, LNG Canada is the country’s first major liquefied natural gas export facility. The plant has an annual capacity of up to 14 million tonnes and access to abundant, low-cost natural gas from northeast B.C., as well as an ice-free deepwater port. Backed by a 40-year export licence, the facility aims to supply Asian markets with LNG as a lower-carbon alternative to coal, potentially reducing global greenhouse gas emissions.

The project is a joint venture between Shell, Petronas, PetroChina, Mitsubishi Corp., and Korea Gas Corp. (KOGAS).

The first phase involved the construction of two LNG processing units (“trains”). This initial stage also included a new marine terminal, storage tanks, and the Coastal GasLink pipeline, which transports natural gas from northeastern B.C. to the facility

Phase 2, if approved, aims to double the plant’s capacity by adding two more LNG trains, as well as expanding related storage and shipping infrastructure. Future expansion is contingent upon environmental assessments, market demand, and investment decisions.

“We’ve been a proud partner of LNG Canada through Phase 1 and we look forward to contributing to the next chapter in the construction of this world-class facility,” said Mike Alexander, Fluor’s president of energy solutions, in a statement.

Fluor has operated in Canada for more than 75 years, working on large-scale oil, gas, mining, power and infrastructure projects.

Key Takeaways:

• The study will explore the potential for new cross-Canada pipelines, a James Bay deep-sea port, and expanded refining capacity to improve domestic energy security and create jobs.
• Ontario, Alberta, and Saskatchewan say the corridor could help protect against supply disruptions, unlock export markets, and support a more self-reliant national economy.
• The study will include an Indigenous engagement roadmap and consider infrastructure opportunities like all-season roads, broadband, and access to Northern Ontario’s Ring of Fire region.

The Whole Story:

Ontario has issued a request for proposals to study the feasibility of a new energy and economic corridor stretching from Alberta to Southern Ontario and possibly to tidewater via James Bay.

The project under consideration includes the development of new oil and gas pipelines built entirely within Canada using Canadian and Ontario steel. The proposed corridor could also include a deep-sea port on James Bay and a new or expanded refinery along the route.

Premier Doug Ford said the initiative is a response to growing concerns over Canada’s energy security and reliance on infrastructure outside its borders.

“Canada can no longer rely on energy infrastructure that lies outside of our borders and can be shut down at a moment’s notice by another country,” Ford said in a statement Thursday. “It’s time for us to build cross-Canada infrastructure within our borders.”

The feasibility study will examine the technical and commercial viability of the corridor, as well as potential benefits to domestic energy security, job creation, and export capacity. It will also consider the establishment of a Canadian Strategic Petroleum Reserve — an emergency fuel stockpile that Canada currently lacks, unlike many International Energy Agency member countries.

Infrastructure Minister Kinga Surma said the study comes amid geopolitical instability and new U.S. tariffs on Canadian goods, arguing that cross-provincial collaboration on trade and energy is essential.

“We are seizing a generational opportunity to bring sustainable prosperity to our northern communities and strengthen both Ontario and Canada’s economy,” said Surma.

The governments of Alberta and Saskatchewan — both partners in a memorandum of understanding with Ontario — voiced their support.

“We are securing long-term energy access for families and businesses, creating thousands of jobs, and opening new doors for trade and investment,” Alberta Premier Danielle Smith said, calling it a “defining moment” for Canadian energy independence.

Saskatchewan Premier Scott Moe added that energy and trade infrastructure like pipelines and rail are key to sustaining jobs and growing exports.

The study will also assess complementary development opportunities, including road access to Northern Ontario’s Ring of Fire mineral deposits, broadband infrastructure, and local social facilities.

Ontario says Indigenous consultation will be central to the process. The province will create an Indigenous engagement roadmap aligned with section 35 of the Constitution Act, 1982, ensuring meaningful consultation and consideration of Indigenous equity participation.

The proposed energy corridor builds on a recent agreement among the three provinces to collaborate on energy development, including nuclear and critical minerals, with the aim of strengthening national infrastructure and workforce resilience.

Key Takeaways:

• Aecon expands U.S. presence with the acquisition of Bodell Construction, a non-union industrial contractor operating across the western and southern United States.
• Bodell’s leadership and 150-person team will remain in place and collaborate with Aecon’s industrial division to support growth in key U.S. sectors like oil and gas, mining, and power generation.
• The deal strengthens Aecon’s industrial capabilities and recurring revenue base while positioning the company to scale operations in the Mountain States and enter new geographic markets.

The Whole Story:

Aecon Group Inc. has acquired Utah-based Bodell Construction Company, a privately owned industrial contractor with operations across the western and southern United States, the company announced Thursday.

Founded in 1972 and headquartered in Salt Lake City, Bodell employs roughly 150 people and specializes in projects in the oil and gas, mining, water and wastewater, and power generation sectors. The company operates as a non-union contractor.

Aecon said Bodell’s existing management team will remain in place and work closely with Aecon’s industrial division to lead the business and support the Canadian firm’s U.S. expansion strategy.

“This transaction strengthens our core industrial capabilities, increases recurring revenue, and positions Aecon for expansion in key U.S. sectors and target markets,” Aecon CEO Jean-Louis Servranckx said in a statement.

John Singleton, senior vice-president of industrial at Aecon, said the acquisition would allow the company to scale operations in the Mountain States region and beyond.

Bodell president and CEO Sean Davis said the deal would allow the company to grow more quickly while offering “expanded services” to its existing clients as part of the Aecon group.

Financial terms of the transaction were not disclosed.

Key Takeaways:

• MacKellar’s five-year, $2-billion extension in Queensland is the largest deal North American Construction Group has ever signed, adding about $800 million to the original 2022 agreement.
• The award pushes NACG’s total contractual backlog to a record $4 billion, with roughly three-quarters tied to Australian projects, giving the company clear revenue visibility through 2029.
• The amended contract introduces performance-based risk-and-reward provisions but requires no additional growth capital, as the mine will continue operating at its current run rate.

The Whole Story:

Alberta-based North American Construction Group Ltd. (NACG) has landed the largest contract in its 70-year history after its Australian subsidiary, MacKellar Group, secured a five-year extension worth about $2 billion at a coal mine in Queensland.

The amended agreement, which now runs to April 30, 2030, boosts NACG’s contractual backlog to a record $4 billion on a pro-forma basis, up from $3.2 billion at the end of the first quarter. Work in Australia accounts for roughly three-quarters of that total, giving the heavy-equipment contractor “full top-line visibility to 2029 at current levels,” the company said.

MacKellar’s new scope adds roughly $800 million to the original deal signed in 2022. NACG said the extension introduces risk-and-reward provisions tied to operational performance but does not require additional growth capital because the mine will continue at its current production rate.

“Signing the largest contract in our history is a testament to the consistent execution and trusted partnerships we’ve built,” chief executive Joe Lambert said in a statement. “With record-high backlog, including more than $3 billion from Australia alone, we have exceptional revenue visibility through the decade and a rock-solid foundation for long-term growth.”

Chief operating officer Barry Palmer called the extension “a tangible demonstration of the successful and productive relationship we’ve had with this customer since inception in 2022” and said the team is “aligned with this customer’s continued success.”

NACG entered the Australian market two years ago when it purchased MacKellar for about $395 million, expanding its earthmoving fleet and diversifying beyond Canada’s oil-sands sector. Operating since 1966, MacKellar specializes in heavy earthmoving equipment and has worked on major mining and civil projects across Australia.

Headquartered west of Edmonton, NACG provides heavy construction and mining services in Canada and Australia. Its shares trade on the Toronto and New York stock exchanges under the symbol NOA.

Key Takeaways:

• Ottawa is offering up to $700 million in loan guarantees, $500 million for product and market diversification, and $50 million for training and income supports to help the softwood-lumber sector withstand higher U.S. duties and modernize.
• New federal procurement rules and the forthcoming Build Canada Homes financing program will require contractors to use Canadian lumber, tying the industry to the government’s plan to double housing starts to 500,000 a year.
• Ottawa will revive programs to expand sales of sustainable, value-added wood products in faster-growing overseas markets and back Indigenous-led ventures, aiming to reduce reliance on the U.S., which currently buys about 90 per cent of Canadian softwood-lumber exports.

The Whole Story:

Prime Minister Mark Carney has unveiled a $1.25-billion support package aimed at helping Canada’s softwood-lumber sector weather rising U.S. trade duties and capitalize on an expected boom in domestic construction.

The plan, announced Tuesday, sets aside up to $700 million in federal loan guarantees so producers can keep plants running and restructure operations. Another $500 million will fund product and market diversification, including Indigenous-led forestry businesses, while $50 million will go toward retraining and income supports for more than 6,000 workers.

Carney said the measures are part of a broader industrial strategy designed to make Canada “more resilient” by strengthening domestic supply chains and prioritizing Canadian materials in federally funded projects.

The forest sector is a pillar of Canada’s economy. In the face of a changing global landscape, we are focused on what we can control — building Canada strong with Canadian expertise, using Canadian lumber.

Prime Minister Mark Carney

The initiative also commits Ottawa to revise procurement rules so companies working on federal contracts must source Canadian lumber. A forthcoming Build Canada Homes program will offer financing to private-sector builders that use home-grown technologies such as mass timber.

In addition, the government plans to revive export-promotion programs to court faster-growing overseas markets for sustainable wood products.

Industry has been under renewed pressure since the U.S. Department of Commerce doubled duties on Canadian softwood lumber July 25, with further increases expected later this month. Roughly two-thirds of Canadian production is exported, nearly 90 per cent of it to the United States.

Forestry employs about 200,000 people nationwide and contributes more than $20 billion to GDP. Ottawa says its pledge to double housing starts to roughly 500,000 units a year within a decade will require almost two billion additional board feet of lumber annually.

François-Philippe Champagne, minister of finance and national revenue, called the sector “a cornerstone of our economy,” while Industry Minister Mélanie Joly said the package would “ensure resilient supply chains” and keep Canada a “trusted global trade partner.”

Forest Products Association of Canada (FPAC) welcomed the announcement, state that it confirms the federal government’s plan to stand with forest sector employees and businesses.

“Encouraging the federal government to get the best trade deal for Canada with our U.S. neighbours continues to be the most important wish of our sector and forestry communities across Canada,” said FPAC President and CEO Derek Nighbor. “As those deliberations continue, today’s measures announced by the Prime Minister are helpful as we try to stabilize the industry for the months ahead and at the same time achieve our shared goals of building more homes, improving competitiveness, increasing production and investment in Canadian operations, and growing new markets for the long-term.”

The BC Council of Forest Industries (COFI) also welcomed the announcement.

“This support comes at a critical moment for forestry workers, communities, and companies across the country,” said Kim Haakstad, President and CEO of COFI. “Initiatives aimed at supporting workers, fostering innovation, enhancing liquidity, and promoting export development through organizations like Canada Wood are important steps toward stabilizing the sector and supporting government efforts to build more homes for Canadians. These investments also lay the foundation for long-term competitiveness.”

Key Takeaways:

• Heidelberg Materials is acquiring BURNCO’s Edmonton-area assets, including aggregate sites, asphalt plants, concrete facilities, and a cement terminal, employing 200 workers.
• The acquisition marks a significant expansion of Heidelberg’s operations in Alberta, aligning with its Strategy 2030 and growth plans in North America.
• The deal is expected to close by the end of 2025, pending regulatory approval; financial terms have not been disclosed.

The Whole Story:

Heidelberg Materials North America has signed a binding agreement to acquire key assets of BURNCO Rock Products Ltd. in Edmonton, marking a major expansion of its operations in Alberta.

The deal includes six aggregate sites, two asphalt plants, a bitumen storage terminal, three ready-mix concrete plants and a rail-served cement terminal, all located in the Edmonton region. The facilities employ about 200 workers.

“This acquisition significantly expands our aggregates business in an attractive market as we continue our ambitious growth path in North America,” said Dr. Dominik von Achten, chairman of the managing board of Heidelberg Materials, in a statement. “Our customers will benefit from an extended network of aggregates and ready-mixed concrete sites.”

Chris Ward, CEO of Heidelberg Materials North America, said the move strengthens the company’s presence in Edmonton and is expected to generate “significant synergies” across the Northwest region.

“We look forward to welcoming 200 BURNCO employees and their valued customers to Heidelberg Materials,” Ward said.

BURNCO is a fifth-generation family-owned construction materials company with operations in both Canada and the United States.

Financial terms of the deal were not disclosed. The transaction remains subject to regulatory approval and is expected to close by the end of 2025.

Heidelberg Materials is one of the world’s largest integrated manufacturers of building materials and solutions with leading market positions in cement, aggregates, and ready-mixed concrete.

Key Takeaways:

• B.C. developers and construction groups are urging Ottawa and Victoria to ease foreign homebuyer restrictions, saying the policies are deepening the industry slowdown and threatening housing supply and jobs.
• Housing starts in B.C. have fallen sharply, with March 2025 starts down 50% year-over-year, and multi-family starts down 22% in B.C. and 29% in Ontario.
• The coalition wants Canada to adopt an Australian-style model, where foreign buyers are barred from existing homes but allowed to purchase newly built units to help projects meet financing and pre-sale thresholds.

The Whole Story:

A coalition of developers, builders and industry groups is calling on federal and British Columbia officials to relax foreign homebuyer restrictions, warning the policies are worsening an industry slowdown and jeopardizing housing supply and jobs.

In an open letter dated July 29, addressed to Prime Minister Mark Carney, federal housing minister Gregor Robertson and B.C. Premier David Eby, more than two dozen signatories — including Beedie, Polygon, Westbank, Intracorp and the Independent Contractors and Businesses Association (ICBA) — argue the national ban on foreign homebuyers and B.C.’s provincial tax are stalling new projects at a time when the province faces a deepening housing shortage.

The group says B.C.’s real estate and construction sectors together contributed $93 billion to provincial GDP in 2023 — roughly 29% of the total economy — but housing starts are plummeting. The letter cites a 50% drop in March housing starts year-over-year, from 4,867 in March 2024 to 2,379 in March 2025, with multi-family starts down 22% in B.C. and 29% in Ontario.

While non-residents own roughly 1% of Canadian homes, foreign investors account for about 10% of newly built condos nationwide, the group says, often providing the pre-sale commitments developers need to secure financing and launch construction. Without that demand, the letter argues, fewer projects will meet pre-sale thresholds, delaying or cancelling new builds and ultimately reducing housing supply.

The coalition is urging Ottawa and Victoria to follow Australia’s example, where foreign ownership of existing homes is restricted but investment in newly constructed homes and pre-sales remains permitted. They argue this approach would protect local buyers in the resale market while sustaining construction activity.

“We are hopeful your government returns foreign home ownership and investment into British Columbia’s leading economic sector, 16 months ahead of schedule,” the letter says.

The federal foreign buyer ban, introduced in 2023 and extended in 2024, is currently set to remain in place until the start of 2027.

Chrystia Freeland, the former Deputy Prime Minister and Finance Minister, said in 2024 that foreign money “has been coming into Canada to buy up residential real estate, increasing housing affordability concerns in cities across the country,” and that extending the ban is part of “using all possible tools to make housing more affordable.”

Key Takeaways:

• U.S. raises anti-dumping duties on Canadian softwood lumber to 20.56%, drawing sharp criticism from B.C. officials and industry leaders who say the move threatens jobs and economic stability.
• B.C. Forests Minister Ravi Parmar and COFI condemned the tariffs, with Parmar blaming Donald Trump and COFI urging immediate provincial action to restore harvest levels and keep mills operating.
• The forestry sector is calling for urgent reforms, including fast-tracking permits, increasing timber sales, and improving coordination with First Nations to stabilize and strengthen the industry at home.

The Whole Story:

The United States has sharply increased anti-dumping duties on Canadian softwood lumber to 20.56%, escalating a long-standing trade dispute and prompting fierce condemnation from British Columbia’s government and forestry sector.

The U.S. Department of Commerce’s final decision, announced this week, more than doubles the previous anti-dumping duty rate of 7.66% for most Canadian producers. Additional countervailing duties are expected to follow, potentially pushing total tariffs above 30%.

B.C. Forests Minister Ravi Parmar blasted the move as a direct attack on working families and accused former U.S. president Donald Trump of undermining Canada’s economy.

“U.S. President Donald Trump has made it his mission to destroy Canada’s economy, and the forestry sector is feeling the full weight of this,” Parmar said in a statement. “We will not stand by while Donald Trump tries to rip paycheques out of the hands of hard-working people in B.C.”

Parmar said Premier David Eby is coordinating with federal and provincial counterparts on a national response. B.C. has also reactivated its Softwood Lumber Advisory Council and appointed former deputy minister Don Wright as a strategic advisor to guide the province’s strategy.

The BC Council of Forest Industries (COFI) also condemned the U.S. decision, calling it “unjustified and punitive.”

“These trade actions continue to harm workers, families, and communities across British Columbia and Canada—and have gone unresolved for far too long,” COFI said in a statement. “We call on the Government of Canada to make resolution of the softwood lumber dispute a top national priority. But this latest escalation also underscores a hard truth: we cannot wait for the U.S. to act.”

COFI urged the provincial government to urgently strengthen the conditions for domestic success by treating forestry as a major project, with a goal of restoring harvest levels to 45 million cubic metres. That includes fast-tracking permits, releasing ready-to-sell BC Timber Sales volumes, expanding salvage and thinning operations, and supporting First Nations in expediting land use decisions.

“The best way to support forest workers is to keep mills operating and people working,” the council stated. “We want to retain forestry workers, not retrain them.”

Canada has long denied that its producers are unfairly subsidized and is expected to challenge the U.S. decision through international trade bodies, including the World Trade Organization and the Canada-U.S.-Mexico Agreement dispute resolution mechanisms.

Meanwhile, B.C.’s forest sector continues to grapple with additional pressures, including declining timber supply, wildfires, mill closures, and complex permitting delays. Parmar said the province remains committed to building a more sustainable and resilient forest economy.

“This is about more than lumber — it’s about people and place,” he said.

Canada’s mining sector is in the midst of a transformative boom, with record investments powering some of the largest construction projects ever undertaken in the country. As global demand accelerates for critical minerals—nickel, copper, potash, lithium, and more—Canadian mining companies and their construction partners are advancing multi-billion dollar projects from coast to coast. The past year has seen major groundbreakings, timely completions, and crucial permitting milestones, reflecting Canada’s central role in the future of clean energy, advanced manufacturing, and sustainable resource development.

BHP Jansen Potash Project – Saskatchewan ($14 Billion)

Led by BHP, the Jansen project represents the world’s largest potash mine under construction and Canada’s biggest private sector investment. Located 140 kilometers east of Saskatoon, this massive development will produce 8.5 million tonnes of potash annually once fully operational. The project has faced cost overruns, with Stage 1 now estimated at $7-7.4 billion compared to the original $5.7 billion. Key partners include Worley, for construction services including fabrication, modularization, and field construction programs. BHP is also working with George Gordon First Nations to provide socio-economic benefits and Indigenous participation.

Seabridge Gold KSM Project – B.C. ($7.2B+)

The Kerr-Sulphurets-Mitchell (KSM) Project is one of the world’s largest undeveloped gold projects, containing 47.3 million ounces of gold and 7.3 billion pounds of copper in proven and probable reserves. Located in BC’s Golden Triangle, the project has a 50+ year mine life and has received environmental assessment approval. Seabridge has invested over $997 million in exploration, engineering, and environmental work since 2001. The company received “substantially started” status in July 2024, allowing the environmental certificate to remain valid permanently.

Vale Voisey’s Bay Expansion – Newfoundland and Labrador ($4B)

Completed late last year, this major project transitioned Voisey’s Bay from open pit to underground mining, developing two underground mines (Reid Brook and Eastern Deeps). The expansion, advanced by Vale Base Metals, increases nickel production to 45,000 tonnes per year, plus 20,000 tonnes of copper and 2,600 tonnes of cobalt annually. The project represents one of the largest mining investments in recent Canadian history and will supply critical minerals to global markets, including defense manufacturing and battery electric vehicles. Employment at Voisey’s Bay increased to 1,100 direct employees from 600 pre-expansion. Full project ramp-up is expected next year.

Teck Highland Valley Copper Mine Life Extension – B.C. ($2.1-2.4B)

Teck Resources’ Highland Valley Copper expansion, approved in July 2025 at a cost of $2.1–2.4 billion, extends BC’s biggest copper mine’s life to 2046, supporting 1,500 permanent jobs and generating 2,900 construction jobs while greatly increasing copper output to 132,000 tonnes a year. Permitting is complete and engineering is well advanced, with construction starting August 2025.

Canada Nickel Crawford Project – Ontario ($3.375B)

Canada Nickel’s $3.375 billion Crawford Project, located near Timmins, is set to be among the world’s largest new nickel producers, having wrapped up front-end engineering in 2025 and now awaiting its final permits. With engineering and construction support from Mattagami First Nation and major financial partners, the mine will also require extensive rail and highway building.

Generation Mining Marathon Project – Ontario ($1.445B)

Generation Mining’s $1.445 billion Marathon Palladium-Copper Project, northwest of Thunder Bay, is fully permitted and seeking financing after final provincial approval in spring 2025. Set to yield over 2.12 million ounces of palladium and 517 million pounds of copper over 13 years, it’s expected to break ground in 2025.

Wyloo Metals Eagle’s Nest Project – Ontario ($822M)

Wyloo Metals is progressing the Eagle’s Nest nickel-copper-PGM project in Ontario’s Ring of Fire, with costs estimated at $822 million (up from the earlier $609 million USD feasibility study). Construction is planned for 2027, pending the completion of vital access roads, and includes a proposed downstream processing facility in Sudbury.

Alamos Lynn Lake Gold Project – Manitoba ($853M)

Alamos Gold’s Lynn Lake project—at $853 million—will be the largest new mine launched in Manitoba since 2014. Construction will start in 2025, producing an average of 176,000 ounces of gold per year from two open pits, with Stantec as the primary environmental engineering services partner.

Artemis Gold Blackwater Mine – British Columbia ($730–750M)

Artemis Gold’s Blackwater Mine, southwest of Prince George, reached commercial production in May 2025 after a rapid 22-month build costing around $750 million. Sedgman Canada led much of the construction, with the project notable for Indigenous participation and an impressive safety performance.

Rio Tinto Complexe Jonquière Aluminum Expansion – Quebec ($1.1B)

Rio Tinto’s $1.1 billion expansion at Complexe Jonquière (Saguenay) will increase aluminum smelter capacity by 160,000 tonnes. Currently under construction with AtkinsRéalis and GE Vernova as key contractors, the project creates up to 1,000 construction jobs, supported by $113 million from the Quebec government.

Key Takeaways:

• Teck Resources will invest between $2.1 and $2.4 billion to extend the life of Highland Valley Copper in B.C., keeping Canada’s largest copper mine operating until 2046.
• The project will sustain about 1,500 existing jobs, create 2,900 construction jobs, and generate roughly $935 million in GDP during construction and ongoing operations.
• Indigenous governments, including the Citxw Nlaka’pamux Assembly, will play a central role in oversight and decision-making, setting a new precedent for major project development in Canada.

The Whole Story:

Teck Resources Ltd. says it will spend up to $2.4 billion to extend the life of British Columbia’s Highland Valley Copper mine, a move that will keep Canada’s largest copper operation running until 2046 and support thousands of jobs in the province.

The Highland Valley Copper Mine Life Extension project, approved by Teck’s board this week, will extend production by nearly two decades and is billed as the largest critical minerals investment in B.C.’s history. The mine, which employs about 1,500 people and contributes roughly $500 million annually to provincial GDP, is expected to maintain those operations while creating an additional 2,900 jobs and $435 million in GDP during construction.

“This extension of Canada’s largest copper mine is foundational to our strategy to double copper production by the end of the decade,” said Jonathan Price, Teck’s president and CEO. “With strong demand for copper as an energy transition metal, this project will secure access to this critical mineral for the next two decades and continue the economic and community benefits Highland Valley Copper brings.”

Teck says the mine will produce an average of 132,000 tonnes of copper annually over the life of the project. Construction is set to begin in August, with engineering nearly 70 per cent complete and major permits already secured. The capital investment, expected between $2.1 and $2.4 billion, will cover infrastructure upgrades, mine fleet expansion, grinding circuit improvements, and enhanced power, water and tailings facilities.

B.C. Premier David Eby called the expansion a major boost for the provincial economy. “This multi-billion dollar project represents 2,900 new jobs and a $500 million increase to GDP,” he said. “It’s just one example of how British Columbia can drive our country’s economy forward even in challenging times.”

Indigenous leaders say the project reflects a new model for development. Christine Walkem, chair of the Citxw Nlaka’pamux Assembly and chief of the Cook’s Ferry Indian Band, said the eight participating bands have embedded their laws and governance into the project’s environmental assessment and oversight. “Our communities are not bystanders to development — we are decision-makers,” she said. “Our laws must continue to guide the process, and our people must share in the benefits now and for generations to come.”

The federal government also hailed the investment as a way to solidify Canada’s role as a global supplier of critical minerals. “By extending the life of Canada’s largest copper mine, we are strengthening our critical minerals sector here at home and becoming the international supplier of choice,” said Tim Hodgson, minister of energy and natural resources.

The Highland Valley Copper operation, wholly owned by Teck, will move through three mining phases, starting with existing pits through 2027, followed by development of satellite orebodies and a major pushback of the Valley pit between 2028 and 2033, before transitioning to high-grade ore from the Valley pit through 2046.

Teck says capital spending will be staged from the second half of 2025 through 2028, with detailed production and spending guidance to be updated in January 2026.

Canderel acquires Taligent

Canderel, one of Canada’s largest property managers and developers, has acquired Taligent, a building technology infrastructure and systems integration consulting leader. The strategic acquisition enhances Canderel’s ability to deliver technology-forward solutions across its national portfolio, adding expertise in smart building integration, multimedia systems, IT networks, and digital infrastructure. Taligent’s approximately 50 employees will continue operating under their existing brand while benefiting from Canderel’s scale and multidisciplinary capabilities, strengthening the company’s end-to-end real estate solutions platform.

Seaspan and Algoma Steel MOU

Seaspan has signed a memorandum of understanding with Algoma Steel to explore opportunities for collaboration in marine transportation and logistics services. The partnership aims to leverage Seaspan’s extensive marine capabilities and Algoma Steel’s steel production expertise to enhance supply chain efficiency and support Canada’s industrial sector. The strategic alliance represents a significant step toward strengthening domestic steel transportation networks and fostering innovation in marine logistics solutions across the Great Lakes region.

Maple Reinders sells AIM to Convertus Canada

Maple Reinders Group has completed the sale of its majority-owned subsidiary AIM Group Ltd. to Convertus Canada, a full-cycle organic waste treatment provider. The strategic divestiture marks a significant milestone for Maple Reinders, which had partnered with AIM for over two decades to deliver advanced environmental solutions across Canada. Together, the companies designed, built, operated and maintained more municipal organics facilities than any other firm in Canada, processing approximately 10% of the country’s residential organics waste.

DIALOG merges with RPK in Edmonton

DIALOG and Rockliff Pierzchajlo Kroman Architects have merged their design teams in Edmonton. The strategic consolidation brings together two established firms to strengthen their collective capabilities in the Alberta market. The merger combines DIALOG’s multidisciplinary expertise with Rockliff Pierzchajlo Kroman’s architectural specialization, positioning the unified team to better serve the region’s growing infrastructure and development needs while maintaining both firms’ commitment to innovative design solutions.

Allies and Morrison opens Toronto studio

Allies and Morrison, a UK-based urban design firm, has opened its first Canadian studio in Toronto after nearly a decade of working in the country. Led by Partner Angie Jim Osman and supported by Partner Alfredo Caraballo, the new office will build on the firm’s established Canadian portfolio including projects like Beltline Yards, 2150 Lake Shore, and Ookwemin Minising. The Toronto studio, located at 517 Wellington Street West, will be staffed by Directors Neil Shaughnessy and Ross Carter-Wingrove, combining international expertise with local market knowledge to deliver high-density neighbourhood developments.

Brookfield acquires Shangri‑La Vancouver

Brookfield Asset Management has acquired the Shangri-La Vancouver hotel from developers Westbank and Peterson for an estimated $150-200 million. The 119-room luxury hotel, located within a 62-storey mixed-use tower in downtown Vancouver, is being rebranded as Hyatt Vancouver Downtown Alberni and will undergo a multi-million-dollar renovation before becoming the city’s first Park Hyatt in 2026. The acquisition includes both the hotel and retail parcels, with the property continuing operations throughout the transition.

Brandt becomes John Deere dealer in Australia

Regina-headquartered Brandt has been appointed as the new Deere Construction and Forestry dealer across three Australian states—Victoria, South Australia, and Tasmania—effective August 1. The Saskatchewan-based company, which began with a single John Deere construction dealership in 1992, now operates the world’s largest John Deere dealer group with 56 stores in Canada and 13 in New Zealand’s north island. Brandt first entered the Australian market in 2021 and has since invested in local agriculture, golf, and compact construction equipment dealership networks.

Northstar Clean secures EDC LOI

Northstar Clean Technologies Inc. has received a non-binding Letter of Interest from Export Development Canada for potential financial support of up to C$12.5 million for its first planned asphalt shingle reprocessing facility in the United States, with potential funding for three additional facilities. The project financing would support Northstar’s expansion into the U.S. market, where the company plans to reprocess discarded asphalt shingles into reusable components including liquid asphalt, aggregate, and fiber, addressing waste management while creating valuable construction materials.

CGC Inc. to Acquire Imperial Building Products

CGC Inc., a leading Canadian manufacturer of gypsum-based building materials, has entered into a definitive agreement to acquire Imperial Building Products Ltd. (IBP), a manufacturer of steel framing components and drywall accessories. Based in Richibucto, New Brunswick, IBP operates five manufacturing facilities across Canada and specializes in steel framing, drywall trims, and proprietary structural solutions. The acquisition expands CGC’s product portfolio and strengthens its national supply chain, positioning the company as a comprehensive building solutions provider while supporting Canada’s housing and infrastructure development goals.

Englobe Acquires Cambium Inc.

Englobe Corp. has announced its acquisition of Cambium Inc., a specialized environmental consulting firm based in British Columbia. The acquisition strengthens Englobe’s environmental services capabilities on Canada’s West Coast, adding Cambium’s expertise in environmental assessment, remediation, and regulatory compliance to its national portfolio. Cambium brings established client relationships and technical expertise in contaminated site assessment and remediation, complementing Englobe’s existing environmental consulting services across Canada.

MacLean and Sika strategic partnership

MacLean Engineering and Sika have announced a strategic collaboration targeting the underground mining and civil construction sectors. The partnership combines MacLean’s shotcrete spraying equipment and advanced technology offerings with Sika’s complementary product lines, focusing on shotcrete application, chemical admixtures, and system integration.

Ontario prefab builder raises funds

CABN, a Canadian prefabricated home builder, has secured a strategic investment round led by Active Impact Investments to expand its Brockville, Ont., manufacturing facility and scale production of net-zero residential and commercial buildings. The funding will support robotics, 3D LiDAR, and a patent-pending wood scanning technology aimed at boosting output and reducing waste, enabling the plant to produce 552,000 square feet of sustainable housing annually.

U.S. REIT launches Canadian IPO

GO Residential REIT, a U.S.-based owner of five luxury rental towers in Manhattan, is launching a US$410-million IPO on the Toronto Stock Exchange, potentially growing to US$500 million with cornerstone investor Cohen & Steers. Co-founded by Joshua Gotlib and Meyer Orbach, the REIT aims to use proceeds to reduce its high debt load and is targeting a US$2.225-billion enterprise value.

SolarBank rebrands to PowerBank

SolarBank Corporation will rebrand as PowerBank Corporation on July 28, 2025, to reflect its broader focus on power and energy solutions beyond solar, while retaining its existing stock symbols on NASDAQ, Cboe Canada, and the Frankfurt Stock Exchange. The name change, approved by shareholders, will not affect the company’s share structure, rights, or outstanding certificates, and requires no action from investors. Trading under the new name will begin on the effective date, when the company’s website will transition to www.powerbankcorp.com.

Key Takeaways:

• Osisko Development has secured US$450 million in financing from Appian Capital Advisory to advance its fully permitted Cariboo Gold Project in British Columbia.
• An initial US$100 million draw will support early construction activities, repay existing debt, and fund infill drilling and underground development.
• Appian receives 5.6 million warrants as part of the deal, signaling a long-term strategic partnership and confidence in the project’s potential.

The Whole Story:

Osisko Development Corp. has secured a US$450-million project loan from Appian Capital Advisory to fund development of its Cariboo Gold Project in central British Columbia.

The financing includes an initial US$100-million draw that will support early construction activities, repay a US$25-million term loan with National Bank of Canada, and fund infill drilling, detailed engineering and underground development. The remaining US$350 million is available in additional tranches over the next three years, contingent on key project milestones and approvals.

The credit facility marks a major step forward for the Montreal-based gold developer, which aims to advance the fully permitted, 100%-owned Cariboo project toward production. Osisko Development said the funding provides the financial flexibility to maintain momentum as it works toward a formal construction decision.

“This is a significant endorsement of the Cariboo Gold Project and a major milestone in advancing it towards a construction decision,” said Osisko CEO Sean Roosen. “Appian is the leading investor in the mining space and has a successful track record of identifying and supporting the development of high-quality assets.”

Appian, a London-based private capital fund focused on the mining sector, described Cariboo as a strong fit with its investment strategy. “It is situated in a stable jurisdiction, boasts a robust existing minerals base with clear upside potential, and is being led by an experienced management team,” said Appian founder and CEO Michael Scherb.

The loan is structured as a senior secured facility through Osisko’s wholly owned subsidiary, Barkerville Gold Mines Ltd. It matures in 2033, or in 2028 if Osisko does not access any of the follow-up tranches. Interest on the initial draw is set at SOFR plus 9.5%, with partial payment-in-kind options available in the first year. Later draws will be charged at a lower rate.

As part of the deal, Appian will receive 5.6 million non-transferrable warrants to purchase Osisko common shares at $4.43, exercisable over the next three years.

Advisors on the deal included GenCap Mining Advisory, Maxit Capital LP, Bennett Jones LLP and Torys LLP.

The Cariboo project is Osisko’s flagship asset, located in a historic gold mining camp in B.C.’s interior. The company also holds projects in Utah and Mexico.

Key Takeaways:

• Ontario has signed memorandums of understanding with British Columbia and the three territories to reduce trade barriers, streamline labour mobility and boost interprovincial commerce.
• The deals make Ontario the first province to secure internal trade agreements with 10 provinces and territories, building on legislation to strengthen cross-country commerce and resist U.S. trade pressures.
• Leaders say the agreements will cut costs for businesses, open new opportunities for workers and connect northern and western markets more closely to the rest of Canada’s economy.

The Whole Story:

Ontario has signed new agreements with British Columbia and Canada’s three territories to reduce trade barriers, improve labour mobility and strengthen economic cooperation, Premier Doug Ford announced Monday.

The two memorandums of understanding, signed alongside B.C. Premier David Eby, Yukon Premier Mike Pemberton, Northwest Territories Premier R.J. Simpson and Nunavut Premier P.J. Akeeagok, are aimed at cutting red tape, lowering business costs and creating freer movement for skilled workers.

“With President Trump’s ongoing threats to our economy, there’s never been a more important time to boost internal trade to build a more competitive, resilient and self-reliant economy,” Ford said. “By signing these MOUs and working together, we’re helping Canada unlock up to $200 billion in economic potential and standing shoulder to shoulder to protect Canadian workers across the country.”

The agreements make Ontario the first province to secure internal trade deals with 10 provinces and territories. The government says the deals build on its recent Protect Ontario Through Free Trade Within Canada Act, which reinforces the province’s ability to expand cross-country commerce and shield its economy from U.S. trade actions. Ontario remains the only jurisdiction to eliminate all party-specific exceptions under the Canadian Free Trade Agreement.

Eby said the B.C. agreement would benefit more than half of Canada’s population by opening economic pathways between the provinces, while the three northern premiers highlighted opportunities for greater connectivity, streamlined certification and new business prospects across the territories.

Ford is hosting Canada’s premiers and their delegations this week for the Council of the Federation’s summer meeting in Toronto.

Key Takeaways:

• Manitoba and Saskatchewan have signed a five‑year deal with Arctic Gateway Group to expand the Port of Churchill and boost exports of Prairie commodities such as grain, minerals and energy.
• The agreement will see investments in port and rail upgrades, a longer Hudson Bay shipping season, and federal funding efforts to improve northern trade connectivity.
• The deal is positioned as a step toward diversifying Canada’s trade routes, strengthening Arctic sovereignty, and generating benefits for Indigenous and northern ownership communities.

The Whole Story:

Manitoba and Saskatchewan have signed a five-year agreement with Arctic Gateway Group to expand infrastructure and boost exports through the Port of Churchill, Canada’s only deepwater Arctic port.

The memorandum of understanding, announced Tuesday by premiers Wab Kinew and Scott Moe at the Council of the Federation’s summer meeting, aims to transform Churchill into a key trade corridor for Prairie commodities such as grain, minerals and energy.

Under the deal, Arctic Gateway Group will invest in port and rail upgrades and work to lengthen the Hudson Bay shipping season. Saskatchewan will engage commodity producers and exporters through its trade offices and industry networks, while Manitoba will lead efforts to secure federal funding and regulatory support to improve northern connectivity.

“Churchill presents huge opportunities when it comes to mining, agriculture and energy,” Kinew said. “Through this agreement with AGG and Saskatchewan, we are going to unlock new opportunities for businesses in Manitoba and Saskatchewan to get goods to market.”

Moe said streamlining access to Churchill will help Prairie exporters reach new and emerging international markets, while AGG CEO Chris Avery called the agreement a “clear signal” that the Arctic corridor will play a central role in Canada’s trade and transportation strategy.

The partnership, which includes annual progress reviews, is also framed as a boost to Arctic sovereignty and reconciliation, with profits from the port returning to AGG’s Indigenous and northern ownership communities.

Key Takeaways:

• CMHC estimates eliminating interprovincial trade barriers could add over 30,000 housing starts annually, helping to close Canada’s supply gap.
• Household incomes could rise by 6%, with rents increasing only half as much, easing rental market pressure.
• Transportation costs, not regulation, are the main obstacle to cross-province construction material trade—prompting calls for infrastructure investment.

The Whole Story:

Could removing interprovincial trade barriers boost Canadian housing starts by 30,000 units?

New modelling by the Canada Mortgage and Housing Corporation thinks so.

The federal housing agency says that number could push annual housing starts close to 280,000, helping to narrow Canada’s housing supply gap and improving access to homeownership and rentals over time.

CMHC’s analysis follows a major shift on Canada Day, when the federal government significantly reduced internal trade barriers. Several provinces — including Nova Scotia, Prince Edward Island, Quebec, Ontario, Manitoba, Alberta and British Columbia — have also moved to cut red tape through new legislation or interprovincial agreements.

The agency says reducing these barriers could improve economic productivity, raise household incomes by about six per cent, and lead to 300,000 more households initially gaining access to homeownership. By 2035, that number is expected to level off to around 150,000 as increased demand pushes prices upward. Meanwhile, about the same number of rental units could become available to tenants upgrading their housing situation.

Still, CMHC notes that boosting supply alone may not make homeownership more affordable without addressing other bottlenecks, particularly in transportation. A Statistics Canada survey found nearly half of construction firms cite high transportation costs or long distances as the main reasons they don’t buy materials across provincial lines.

“Canada has ample domestic production of wood, aluminum, iron and steel,” the agency said, pointing to the country’s position as a net exporter of those core construction materials. “But unless we improve west-to-east transportation infrastructure — including rail, highways and remote seaports — these trade reforms won’t reach their full potential.”

While concrete, cement and machinery still rely heavily on imports, CMHC says better use of Canadian-made construction inputs combined with interprovincial trade liberalization could help meet the estimated housing supply needed to restore affordability to pre-pandemic levels over the next decade.

The agency characterized recent legislative moves as a nation-building opportunity, calling for long-term investment in domestic infrastructure to fully realize the economic and housing benefits of a more integrated Canadian market.

Key Takeaways:

• Canada is tightening steel import rules by expanding tariff rate quotas and imposing a 25% surtax on steel products containing Chinese steel, aiming to protect the domestic market from cheap foreign imports and trade circumvention.
• The federal government is investing over $1.5 billion through various programs—including the Strategic Innovation Fund, worker retraining, and small business financing—to help modernize the industry, support job retention, and boost competitiveness.
• Federal procurement rules will now require contractors to use Canadian-made steel whenever possible, reinforcing demand for domestic production and discouraging reliance on foreign suppliers.

The Whole Story:

The federal government is rolling out a sweeping package of trade measures and financial supports aimed at protecting Canada’s steel industry from foreign competition, surging imports, and U.S. tariffs.

With more than half of Canada’s steel exports heading to the U.S. and growing volumes of low-cost foreign steel threatening to flood domestic markets, the federal government says it’s acting to ensure the long-term strength of a sector it describes as vital to infrastructure, manufacturing and the clean economy.

Tariff measures to curb steel dumping

Starting August 1, Canada will expand its use of tariff rate quotas (TRQs)—which allow a set amount of steel imports at a lower tariff—to include countries with free trade agreements, excluding the U.S. and Mexico. Any imports above 2024 levels from these countries will face a 50 per cent surtax. Countries without a trade agreement with Canada will see their duty-free quotas halved, with the same surtax applied to volumes above that threshold.

In addition, a 25 per cent surtax will be imposed on steel imports from all countries (except the U.S.) that contain steel melted and poured in China, aimed at preventing trade circumvention and increasing transparency.

Billions in funding for innovation and stability

The federal government will invest up to $1 billion through the Strategic Innovation Fund to help steel companies modernize operations, pivot to new products, and strengthen domestic supply chains. The support is intended to boost competitiveness in defence and strategic sectors, and to encourage the development of steel products not currently made in Canada.

Another $70 million will be allocated through Labour Market Development Agreements over three years to retrain and reskill up to 10,000 steelworkers, with programs tailored in partnership with provinces, employers, and unions.

Support for businesses large and small

For small and medium-sized steel firms, the government is launching the Pivot to Grow fund, a $500 million program through the Business Development Bank of Canada offering flexible financing to help companies explore new markets and improve productivity.

Larger firms will benefit from changes to the Large Enterprise Tariff Loan Facility, originally announced in March. The $10 billion facility’s lending terms will be eased, including lower interest rates and smaller loan minimums, to make it more accessible to steel producers.

Additionally, up to $150 million of a previously announced $450 million Regional Tariff Response Initiative will be earmarked for steel sector SMEs impacted by tariffs.

Canadian content in procurement

The government also announced that federal contractors will be required to use Canadian-made steel wherever possible. Exceptions will only be granted in writing if the needed product is unavailable domestically or would significantly raise costs or cause unacceptable delays.

“Canada needs steel to build homes, transit, bridges—and the clean economy of tomorrow,” the Department of Finance said in a statement. “These measures will help ensure our industry is ready to meet that demand.”