The National Post reports in its Tuesday edition that Prime Minister Mark Carney announced $1.2-billion in support for Canada's lumber industry, severely affected by impending U.S. duties that could rise to 35 per cent from 14.4 per cent. A Bloomberg dispatch to the Post reports that this support includes $700-million in loan guarantees for forestry companies and $500-million in grants for product development and market diversification. Mr. Carney emphasized that Canada does not unfairly subsidize lumber exports and highlighted the importance of Canadian supplies to the U.S. market. The long-standing dispute stems from U.S. claims of unfair subsidies, with President Donald Trump further escalating tensions by increasing U.S. lumber production and investigating national security risks related to lumber imports under Section 232 of the Trade Expansion Act. Canada shipped $40.3-billion of forest products and building and packaging materials to the U.S. last year, its fifth-largest category of exports to its largest trading partner. Mr. Carney said his government would launch its promised homebuilding agency, called Build Canada Homes, in the fall, which will prioritize Canadian lumber, steel and aluminum in construction.