It's important to replant trees in the many areas where they have been removed due to logging and other development. While sustainable logging practices do this as a matter of course, I doubt it's industry-standard. We've no doubt removed so many more tree than we have replaced, so there's still work to be done.
Not only do we need trees to create many products, we also require the oxygen released from trees to live and breathe. It is extremely important for trees to be replaced as they are torn down to promote life for the rest of the planet. There are plenty of spaces for trees to be planted.
Of course it is important to rebuild the tree population. Trees are our greatest source of oxygen. Without oxygen we would be dead. For every tree we chop down we should at least replace twofold, just in case the tree does not grow. Without trees we would have no wood, no paper and no oxygen.
It is not at all important to rebuild the tree population. We already have more than enough trees in our world. The Scare tactics used to lead people to believe we are running out of trees is nothing but that, scare tactics. The world was fine before people and it will be fine after people.