Canada’s sugar, candy industry could be hit hard by tariffs, experts say
Global News
Canada and the U.S. are currently in a month-long truce after President Donald Trump threatened sweeping tariffs on Canadian imports.
Experts say the Canadian sugar and confectionery industry would be hit hard if the country enters into a trade war with the U.S.
Farm Credit Canada says the industry is one of Canada’s most vulnerable agri-food sectors because more than 80 per cent of its sales are exports to the U.S.
Canada and the U.S. are currently in a month-long truce after President Donald Trump threatened sweeping tariffs on Canadian imports.
Canada has said it will retaliate with tariffs of its own.
Agriculture and food economic consultant Sebastien Pouliot says if the U.S. does introduce widespread tariffs on Canadian goods, there would be a significant decline in candy exports.
If it looks like tariffs will be in place for the long term, Pouliot says some companies will likely look at building manufacturing capacity in the U.S.
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