Canadian food and beverage makers have begun to feel the pinch of trade tensions with the U.S. according to a new forcast by Farm Credit Canada, which downgraded sales growth predictions from the start of the year.
Prime Minister Mark Carney said he had “constructive” trade talks with Chinese Premier Li Qiang on the sidelines of the U.N. assembly in New York and covered agri-food products like canola as well as seafood and electric vehicles.
Senior Chinese trade negotiator Li Chenggang met political and business leaders from the U.S. Midwest. Analysts speculate the region’s food exports will be key to any U.S.-China trade deal.
The majority of Canadians are in favour of lowering tariffs on Chinese electric vehicles if it would help improve market access for Canadian canola according to new data from the Angus Reid Institute.
The Trump administration is drawing up plans to use tariff revenue to fund a program to support U.S. farmers, the Financial Times reported on Thursday, citing agriculture secretary Brooke Rollins.
Feed millers in Vietnam are taking advantage of bargain prices with rare purchases of Canadian canola meal after China imposed hefty tariffs on the oilseed.
The U.S. Department of Agriculture is working with Congress to evaluate whether economic aid might be needed for the nation’s farmers this fall amid trade disputes and record-high yields, Agriculture Secretary Brooke Rollins said on Monday.