They fear the lag between when the emissions escape from power plant chimneys and when new trees are able to absorb carbon will create a “carbon debt” which could accelerate the climate crisis in the near term

Exactly. Planting trees is the only thing that is positive in this equation.

Burning wood = more CO2

Cuting down trees = less carbon capture = more CO2 in the future

The only reduction happens at the place trees are planted and if that is in another country then you are not reducing your country’s carbon footprint. And if the exporting country isnt planting trees than you might as well burn oil in regards to CO2 emissions.