Retaliatory Chinese tariffs set to hit Canadian canola farmers
Global News
Saskatchewan Premier Scott Moe says his canola industry is under fire due to tariffs on Chinese EVs, "which nobody wants," to protect North American EVs, which few can afford.
Canadian farmers could take a big hit from China’s sudden retaliatory tariffs that take aim at canola, pork and other food commodities later this month.
Beijing announced retaliatory tariffs on select Canadian farm imports in response to Canadian duties levied back in the fall against Chinese-made electric vehicles, as well as steel and aluminum products.
China is now hitting Canada with 100 per cent tariffs on canola oil and peas, and 25 per cent tariffs on pork and aquatic products — loosely mirroring Canada’s EV and steel and aluminum levies.
Chris Davison, president of the Canola Council of Canada, said the Chinese tariffs are prohibitively high and the fallout will be felt across his industry.
He said China is a top market for Canadian canola that represents close to $5 billion in export value.
“The impacts will be widespread and will be felt across the industry, starting with farmers who grow the crop every year and extending beyond there to the companies that provide them with seeds and inputs … to grain companies and processors and ultimately to exporters,” Davison said.
“We’re expecting to work with the Canadian government very quickly to address the situation we face but also to pursue a resolution to it as expeditiously as possible.”
In a joint statement late Saturday night, International Trade Minister Mary Ng, Agriculture Minister Lawrence MacAulay and Fisheries Minister Diane Lebouthillier said they are “deeply disappointed” with China’s announced tariffs.
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