French wine and dairy face major blow from U.S. trade move
The tariff, threatened by U.S. President Donald Trump, would target key exports like dairy products and wine, two pillars of France's food industry.
"A 30 percent duty would be disastrous for France's food industry," said Jean-François Loiseau, president of food lobby group ANIA.
"It's a real shock for milk and cheese producers—this is an important market for us," said Francois Xavier Huard, CEO of the dairy association FNIL. The U.S. is a significant destination for French cheeses such as Brie, as well as fresh dairy products like yogurt and butter.
Huard added that the industry may be forced to "rethink its strategy relating to the markets in which it operates" as changing trade rules and tariffs become the new normal. "I don't think this is temporary," he told Reuters.
France exports nearly half of its dairy production, with the U.S. accounting for roughly 350 million euros (US$409 million) annually. Tariffs could push up product prices, making them less attractive to American consumers who are already feeling the effects of inflation.
"Products like wine, especially, are consumed for pleasure—if you have less money to spend, you might forgo the purchase," said Yannick Fialip, head of CNPA, which promotes French food exports.
Fialip also warned that a weaker dollar has already made French goods less competitive in the U.S. market.
The European Commission said it prefers a negotiated trade solution, so it extended its suspension of countermeasures to U.S. tariffs until early August.
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Housing starts for June 2025 Français
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Québec and the Prairie provinces have accelerated the pace of construction for single-detached homes and purpose-built rentals. By contrast, weak condo market conditions in Toronto and Vancouver have contributed to declines in overall housing starts in these regions," said Kevin Hughes, CMHC's Deputy Chief Economist. Key Facts: The monthly SAAR for Canada's centres with a population of 10,000 or greater was flat in June (261,705 units) compared to May (260,947 units). The rural starts monthly SAAR estimate was 22,029 units. Among Canada's big three cities, Vancouver recorded a 74% increase in starts this month, driven by higher multi-unit starts. Montreal posted an 8% year-over-year decrease in actual housing starts compared to June 2024, driven by fewer multi-unit starts. A decrease in multi-unit starts drove the 40% year-over-year decrease in Toronto's housing starts compared to June 2024. Monthly Housing Starts and Other Construction Data are accessible in English and French on our website and the CMHC Housing Market Information Portal. Housing starts data is available on the eleventh business day each month. We will release the July housing starts data on August 18 at 8:15 AM ET. CMHC uses the trend measure as a complement to the monthly SAAR of housing starts to account for considerable swings in monthly estimates and to obtain a clearer picture of upcoming new housing supply. In some situations, analyzing only SAAR data can be misleading, as the multi-unit segment largely drives the market and can vary significantly from one month to the next. Read about our definitions and methodology to better understand the foundations of the Starts and Completions and Market Absorption surveys. Housing starts facilitate the analysis of monthly, quarterly, and year-over-year activity in the new home market. The data we collect as part of our Starts and Completions and Market Absorption surveys helps us obtain a clearer picture of upcoming new housing supply and is used as part of our various housing reports. CMHC plays a critical role as a national convenor to promote stability and sustainability in Canada's housing finance system. Our mortgage insurance products support access to home ownership and the creation and maintenance of rental supply. We actively support the Government of Canada in delivering on its commitment to make housing more affordable. Our research and data help inform housing policy. By facilitating cooperation between all levels of government, private and non-profit sectors, we contribute to advancing housing affordability, equity, and climate compatibility. Table 2 Housing Start Data in Centres 10,000 Population and Over January - June 2024 - 2025 Area Single-Detached All Others Total Province 2024 2025 % 2024 2025 % 2024 2025 % N.L. 254 274 8 104 179 72 358 453 27 P.E.I. 73 124 70 516 444 -14 589 568 -4 N.S. 692 691 0 3,454 3,257 -6 4,146 3,948 -5 N.B. 344 325 -6 1,618 1,747 8 1,962 2,072 6 Atlantic 1,363 1,414 4 5,692 5,627 -1 7,055 7,041 0 Que. 1,954 2,081 6 17,225 23,774 38 19,179 25,855 35 Ont. 5,500 4,412 -20 30,871 22,956 -26 36,371 27,368 -25 Man. 773 1,066 38 1,803 1,931 7 2,576 2,997 16 Sask. 524 789 51 992 2,002 102 1,516 2,791 84 Alta. 6,949 7,792 12 14,561 20,110 38 21,510 27,902 30 Prairies 8,246 9,647 17 17,356 24,043 39 25,602 33,690 32 B.C. 2,114 1,874 -11 20,172 18,583 -8 22,286 20,457 -8 Canada 19,177 19,428 1 91,316 94,983 4 110,493 114,411 4 Metropolitan Areas Abbotsford-Mission 83 78 -6 471 1,194 154 554 1,272 130 Barrie 198 75 -62 127 155 22 325 230 -29 Belleville - Quinte West 87 68 -22 91 184 102 178 252 42 Brantford 91 171 88 17 1,054 ## 108 1,225 ## Calgary 3,343 3,548 6 7,835 11,164 42 11,178 14,712 32 Chilliwack 69 68 -1 260 250 -4 329 318 -3 Drummondville 70 120 71 261 481 84 331 601 82 Edmonton 2,958 3,448 17 5,490 7,420 35 8,448 10,868 29 Fredericton 100 87 -13 114 402 253 214 489 129 Greater/Grand Sudbury 38 26 -32 24 88 267 62 114 84 Guelph 25 11 -56 164 35 -79 189 46 -76 Halifax 373 365 -2 3,150 2,956 -6 3,523 3,321 -6 Hamilton 147 127 -14 888 765 -14 1,035 892 -14 Kamloops 60 50 -17 110 126 15 170 176 4 Kelowna 156 135 -13 2,558 1,679 -34 2,714 1,814 -33 Kingston 93 86 -8 66 715 ## 159 801 404 Kitchener-Cambridge-Waterloo 214 152 -29 1,427 1,079 -24 1,641 1,231 -25 Lethbridge 106 173 63 183 190 4 289 363 26 London 264 238 -10 1,457 543 -63 1,721 781 -55 Moncton 91 107 18 994 1,094 10 1,085 1,201 11 Montréal 518 617 19 8,855 12,075 36 9,373 12,692 35 Nanaimo 83 47 -43 628 163 -74 711 210 -70 Oshawa 222 147 -34 836 172 -79 1,058 319 -70 Ottawa-Gatineau 784 776 -1 3,567 5,643 58 4,351 6,419 48 Gatineau 165 154 -7 1,353 1,115 -18 1,518 1,269 -16 Ottawa 619 622 0 2,214 4,528 105 2,833 5,150 82 Peterborough 78 28 -64 40 3 -93 118 31 -74 Québec 271 340 25 3,317 4,458 34 3,588 4,798 34 Red Deer 31 68 119 247 216 -13 278 284 2 Regina 111 170 53 558 769 38 669 939 40 Saguenay 112 112 - 112 209 87 224 321 43 St. Catharines-Niagara 365 205 -44 517 740 43 882 945 7 Saint John 84 81 -4 312 118 -62 396 199 -50 St. John's 218 256 17 94 172 83 312 428 37 Saskatoon 381 582 53 430 1,145 166 811 1,727 113 Sherbrooke 135 120 -11 567 692 22 702 812 16 Thunder Bay 23 29 26 38 37 -3 61 66 8 Toronto 1,789 1,465 -18 20,740 11,110 -46 22,529 12,575 -44 Trois-Rivières 71 88 24 486 632 30 557 720 29 Vancouver 1,057 944 -11 13,221 11,827 -11 14,278 12,771 -11 Victoria 143 126 -12 1,763 2,213 26 1,906 2,339 23 Windsor 163 150 -8 902 265 -71 1,065 415 -61 Winnipeg 650 978 50 1,720 1,663 -3 2,370 2,641 11 Total 15,855 16,462 4 84,637 85,896 1 100,492 102,358 2 1Data for 2022 based on 2016 Census Definitions and data for 2023, 2024 and 2025 based on 2021 Census Definitions. Source: CMHC Starts and Completion Survey, Market Absorption Survey Housing Start Data in Centres 10,000 Population and Over Single-Detached All Others Total June 2024 June 2025 % June 2024 June 2025 % June 2024 June 2025 % Provinces (10,000+) N.-L. 96 81 -16 36 40 11 132 121 -8 P.E.I. 6 24 ## 38 15 -61 44 39 -11 N.S. 178 212 19 769 505 -34 947 717 -24 N.B. 124 122 -2 358 531 48 482 653 35 Atlantic 404 439 9 1,201 1,091 -9 1,605 1,530 -5 Qc 434 507 17 4,561 4,351 -5 4,995 4,858 -3 Ont. 1,142 1,155 1 4,539 4,076 -10 5,681 5,231 -8 Man. 160 196 23 563 247 -56 723 443 -39 Sask. 154 155 1 217 237 9 371 392 6 Alta. 1,586 1,429 -10 2,205 3,934 78 3,791 5,363 41 Prairies 1,900 1,780 -6 2,985 4,418 48 4,885 6,198 27 B.C. 484 407 -16 2,859 5,058 77 3,343 5,465 63 Canada (10,000+) 4,364 4,288 -2 16,145 18,994 18 20,509 23,282 14 Metropolitan Areas Abbotsford-Mission 12 20 67 29 292 ## 41 312 ## Barrie 34 30 -12 38 34 -11 72 64 -11 Belleville - Quinte West 19 25 32 8 19 138 27 44 63 Brantford 4 67 ## 4 121 ## 8 188 ## Calgary 719 579 -19 1,247 1,721 38 1,966 2,300 17 Chilliwack 11 14 27 104 9 -91 115 23 -80 Drummondville 15 29 93 85 144 69 100 173 73 Edmonton 737 650 -12 738 2,039 176 1,475 2,689 82 Fredericton 37 41 11 43 168 291 80 209 ## Greater/Grand Sudbury 0 11 ## 0 14 ## 0 25 ## Guelph 7 3 -57 30 10 -67 37 13 -65 Halifax 97 99 2 695 401 -42 792 500 -37 Hamilton 19 53 ## 6 74 ## 25 127 ## Kamloops 6 4 -33 6 16 167 12 20 67 Kelowna 38 30 -21 572 632 10 610 662 9 Kingston 28 24 -14 7 497 ## 35 521 ## Kitchener-Cambridge-Waterloo 47 36 -23 538 24 -96 585 60 -90 Lethbridge 17 49 ## 15 10 -33 32 59 84 London 77 69 -10 129 292 126 206 361 75 Moncton 27 41 52 197 285 45 224 326 46 Montréal 121 149 23 2,841 2,580 -9 2,962 2,729 -8 Nanaimo 17 14 -18 62 40 -35 79 54 -32 Oshawa 32 42 31 214 26 -88 246 68 -72 Ottawa-Gatineau 184 141 -23 487 1,039 113 671 1,180 76 Gatineau 36 57 58 107 100 -7 143 157 10 Ottawa 148 84 -43 380 939 147 528 1,023 94 Peterborough 42 6 -86 24 0 ### 66 6 -91 Québec 68 54 -21 761 534 -30 829 588 -29 Red Deer 4 20 ## 5 19 280 9 39 ## Regina 37 39 5 91 48 -47 128 87 -32 Saguenay 25 28 12 24 8 -67 49 36 -27 St. Catharines-Niagara 37 45 22 33 272 ## 70 317 ## Saint John 36 27 -25 68 41 -40 104 68 -35 St. John's 86 73 -15 33 37 12 119 110 -8 Saskatoon 112 111 -1 126 177 40 238 288 21 Sherbrooke 29 29 - 194 257 32 223 286 28 Thunder Bay 9 15 67 6 6 - 15 21 40 Toronto 324 360 11 2,523 1,341 -47 2,847 1,701 -40 Trois-Rivières 17 17 - 80 93 16 97 110 13 Vancouver 300 190 -37 1,467 2,889 97 1,767 3,079 74 Victoria 22 43 95 312 917 194 334 960 ## Windsor 58 42 -28 305 126 -59 363 168 -54 Winnipeg 130 184 42 549 182 -67 679 366 -46 Total 3,641 3,503 -4 14,696 17,434 19 18,337 20,937 14 Data for 2022 based on 2016 Census Definitions and data for 2023, 2024 and 2025 based on 2021 Census Definitions. Source: CMHC Starts and Completion Survey, Market Absorption Survey ## not calculable / extreme value Housing Start Data - Seasonally Adjusted at Annual Rates (SAAR) Single-Detached All Others Total May 2025 June 2025 % May 2025 June 2025 % May 2025 June 2025 % Provinces (10,000+) N.L. 748 611 -18 382 476 25 1,130 1,087 -4 P.E.I. 248 351 42 96 180 88 344 531 54 N.S. 1,795 2,023 13 6,927 6,023 -13 8,722 8,046 -8 N.B. 932 817 -12 5,442 6,294 16 6,374 7,111 12 Qc 4,308 4,626 7 54,404 46,056 -15 58,712 50,682 -14 Ont. 9,902 12,212 23 58,453 46,830 -20 68,355 59,042 -14 Man. 2,224 2,136 -4 6,132 2,964 -52 8,356 5,100 -39 Sask. 1,895 1,729 -9 3,456 2,844 -18 5,351 4,573 -15 Alta. 16,441 14,289 -13 50,791 47,050 -7 67,232 61,339 -9 B.C. 3,844 3,880 1 32,527 60,314 85 36,371 64,194 76 Canada (10,000+) 42,337 42,674 1 218,610 219,031 0 260,947 261,705 0 Canada (All Areas) 56,216 56,645 1 226,487 227,086 0 282,705 283,734 0 Metropolitan Areas Abbotsford-Mission 152 218 43 540 3,504 ## 692 3,722 438 Barrie 281 252 -10 276 408 48 557 660 18 Belleville - Quinte West 103 203 97 0 228 ## 103 431 318 Brantford 0 735 ## 4,236 1,452 -66 4,236 2,187 -48 Calgary 7,037 6,195 -12 28,776 20,652 -28 35,813 26,847 -25 Chilliwack 185 183 -1 185 108 -42 233 291 25 Drummondville 212 294 39 996 1,728 73 1,208 2,022 67 Edmonton 7,317 6,078 -17 18,204 24,468 34 25,521 30,546 20 Fredericton 235 239 2 1,308 2,016 54 1,543 2,255 46 Greater/Grand Sudbury 95 180 89 828 168 -80 923 348 -62 Guelph 2 12 ## 216 120 -44 218 132 -39 Halifax 783 710 -9 5,856 4,812 -18 6,639 5,522 -17 Hamilton 244 535 ## 792 888 12 1,036 1,423 37 Kamloops 41 51 24 48 192 300 89 243 173 Kelowna 362 257 -29 4,548 7,584 67 4,910 7,841 60 Kingston 225 220 -2 24 5,964 ## 249 6,184 ## Kitchener-Cambridge-Waterloo 237 278 17 444 288 -35 681 566 -17 Lethbridge 511 463 -9 456 120 -74 967 583 -40 London 278 842 ## 312 3,504 ## 590 4,346 ## Moncton 290 310 7 3,144 3,420 9 3,434 3,730 9 Montréal 1,228 1,162 -5 30,366 30,806 1 31,594 31,968 1 Nanaimo 40 123 ## 216 480 122 256 603 136 Oshawa 387 416 7 528 312 -41 915 728 -20 Ottawa-Gatineau 1,190 1,618 36 11,196 12,468 11 12,386 14,086 14 Gatineau 376 689 83 4,668 1,200 -74 5,044 1,889 -63 Ottawa 814 929 14 6,528 11,268 73 7,342 12,197 66 Peterborough 70 74 6 0 0 - 70 74 6 Québec 913 575 -37 23,424 6,408 -73 24,337 6,983 -71 Red Deer 90 262 ## 2,160 228 -89 2,250 490 -78 Regina 381 379 -1 336 576 71 717 955 33 Saguenay 244 198 -19 600 96 -84 844 294 -65 St. Catharines-Niagara 438 598 37 936 3,264 249 1,374 3,862 181 Saint John 193 164 -15 600 492 -18 793 656 -17 St. John's 650 534 -18 360 444 23 1,010 978 -3 Saskatoon 1,450 1,173 -19 2,988 2,124 -29 4,438 3,297 -26 Sherbrooke 222 250 13 660 3,084 367 882 3,334 278 Thunder Bay 108 115 6 132 72 -45 240 187 -22 Toronto 4,490 4,716 5 38,424 16,092 -58 42,914 20,808 -52 Trois-Rivières 127 102 -20 3,756 1,116 -70 3,883 1,218 -69 Vancouver 1,978 1,802 -9 19,116 34,668 81 21,094 36,470 73 Victoria 157 557 ## 4,344 11,004 153 4,501 11,561 157 Windsor 409 368 -10 372 1,512 306 781 1,880 141 Winnipeg 1,996 1,959 -2 5,988 2,184 -64 7,984 4,143 -48 Data for 2022 based on 2016 Census Definitions and data for 2023, 2024 and 2025 based on 2021 Census Definitions. SOURCE Canada Mortgage and Housing Corporation (CMHC)
