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CBC
41 minutes ago
- CBC
Canadian canola dodges Trump tariff threat, but still faces economic uncertainty
Canadian canola producers appear to have dodged U.S. President Donald Trump's latest tariff threat, which reports indicate would exclude goods covered by the Canada-U.S.-Mexico Agreement, but economic uncertainty remains for many. The latest round of tariffs threatened by Trump would impose a 35 per cent levy on Canadian imports currently subjected to 25 per cent tariffs, effective Aug. 1. Canadian-grown canola enjoys duty-free status when it travels across the border, but economic uncertainties associated with the ongoing trade dispute create what southern Alberta farmer John McKee calls "an air of anxiety" looming over the industry. McKee, who grows oilseed crops southeast of Lethbridge, said while the tariffs don't directly hurt his canola exports, they're taking a toll on producers in other ways, including forcing farmers to deal with duties when ordering equipment from across the border. McKee said when he looked at ordering "a very small insignificant piece" of equipment from the U.S., he was faced with "extra handling, the extra brokerage fees" and "several extra charges that went along with tracking the appropriate tariff." He said buying a $20 part from the U.S. would have wound up costing him $100 had he not found a near-identical option locally. Andre Harpe, chair of the Alberta Canola Producers Commission, said the U.S. tariffs are only one of several issues Canadian farmers are dealing with. "I think we're almost starting to get used to it now," he said of Trump's recurring tariff threats. Harpe, who grows canola and barley in northern Alberta, said he and many other producers are dealing with more pressing issues like dry growing conditions. "We're looking at making sure we can get the best crop that we can get, so we can actually sell them," he said, pointing to diseases affecting crops across Canada, and a need for more rain. He also said 100 per cent tariffs on Canadian canola oil and canola meal imposed by China in March has been more significant to producers than the country's trade dispute with the U.S. While those duties do not apply to unprocessed canola seeds exported to China, which made up the bulk of Canada's $4.9 billion in canola exports to China in 2024, Harpe called them "probably the biggest concern right now," in terms of tariffs. 'A lot of uncertainty for canola growers' The Canadian canola industry annually contributes an average of $43.7 billion to the national economy, according to the Canola Council of Canada. The council's figures indicate there are approximately 40,000 canola farms nationwide, primarily located throughout Alberta and in southern Saskatchewan and Manitoba, as well as scattered locations in Ontario and British Columbia. "The canola industry is a very significant contributor to economic activity in Alberta," said J.P. Gervais, chief economist with Farm Credit Canada. The U.S. is Canada's largest market for canola exports, making any tariff talk problematic for producers and investors, Gervais said. "This entire situation with the United States … creates a lot of uncertainty for canola growers that are looking to invest, to grow, and grow exports, generate economic activity across the country, across the province," he said. "I do think that we have to wait and see, but recognizing as well that the unknowns, the uncertainty that is in the market right now … really has an impact on the ability of operations to actually invest in their bottom line." He said canola prices took a hit when China first announced its tariffs, but that they have "rebounded quite a bit" this year. "We thrive in an environment where borders remain open and we have free-flowing products between the United States and Canada, between Canada and China," Gervais said. Prime Minister Mark Carney is scheduled to meet with his cabinet on Tuesday and with Canada's premiers on July 22 to discuss the latest developments in the U.S. trade dispute.
National Post
2 hours ago
- National Post
Mexico seeks deal to dodge U.S. tariffs after Trump's latest threats over drug cartels
Mexico is working to avoid new 30 per cent U.S. tariffs threatened by U.S. President Donald Trump, with President Claudia Sheinbaum expressing confidence. Photo by YURI CORTEZ / AFP via Getty Images Mexico is projecting confidence that it will fend off a new set of 30 per cent tariffs that President Donald Trump threatened Saturday to impose next month, with talks already underway to avert the worst. THIS CONTENT IS RESERVED FOR SUBSCRIBERS Enjoy the latest local, national and international news. Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events. Unlimited online access to National Post. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles including the New York Times Crossword. Support local journalism. SUBSCRIBE FOR MORE ARTICLES Enjoy the latest local, national and international news. Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events. Unlimited online access to National Post. National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors After Trump went public with his plan by posting on social media, Mexican President Claudia Sheinbaum noted in speeches near the northern border that every country has been getting a letter from Trump as he implements global protectionist policies. Her team had already begun discussions with the U.S. on Friday and she was confident Mexico would get a deal. 'We've had some experience with these things for several months now,' Sheinbaum said at a clinic opening in Ensenada, Baja California. 'And I think we're going to reach an agreement with the United States government.' Get a dash of perspective along with the trending news of the day in a very readable format. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again Mexico-U.S. relations have taken a bumpy turn since June, with increasing roundups of migrants by U.S. agents, the border shuttered to livestock due to a screwworm infestation in Mexico, U.S. Attorney General Pam Bondi's reference to the neighbouring country as an adversary, and the financial strike by the U.S. Treasury on three Mexican financial firms accused of aiding fentanyl traffickers. Trump's letter threatened new tariffs on Mexico due to a lack of progress in challenging the country's drug cartels. But behind the scenes, work has been advancing between the Sheinbaum and Trump administrations. Mexico is still in a favourable position relative to the rest of the world and it's poised to benefit from protectionist U.S. policies over the medium term, according to Bloomberg Economic's Felipe Hernandez. That outlook assumes the U.S. doesn't apply the 30 per cent rate to goods that are compliant with the U.S.-Mexico-Canada free trade agreement. That exception is part of the plan, but the situation remains fluid, a U.S. official cautioned. Continuing the exclusion for both Mexico and Canada narrows the scope of Trump's continental tariffs and would be a lifeline to sectors like the auto industry that rely heavily on the USMCA pact, which was renegotiated under Trump's first term. Mexico and the U.S. established a new binational working group on Friday to address security, migration and economic issues, according to a statement posted on Saturday by Mexican Economy Minister Marcelo Ebrard on X. The first major task of the group will be to find an alternative to the tariffs and 'protect jobs on both sides of the border,' the statement read. 'We told the group that this treatment is unfair and that we're not in agreement,' read the statement, jointly signed by the Economy and the Foreign Affairs ministries.
CTV News
2 hours ago
- CTV News
Eric Ham: Donald Trump's latest trade salvo raises the stakes for Canada
Political commentator Eric Ham speaks about the assassination attempt against Trump and the impact it had. Eric Ham is based in Washington, D.C. and is a political analyst for CTV News. He's a bestselling author and former congressional staffer in the U.S. Congress and writes for The on-again-off-again trade talks between the United States and Canada are taking on a whole new meaning in light of newly proposed escalatory import duties. U.S. President Donald Trump continues to weaponize import duties, cajoling and bullying nations to agree to hastily enacted trade deals that oftentimes fall woefully short of addressing even the most basic tenets of his perceived gripes. The treacherous landscape makes for a bruising and precarious colloquy between North America's two biggest trading partners and once-great friends. The announcement of a 35 per cent increase in tariffs on all Canadian goods by August 1 places Ottawa's leaders between a proverbial rock and a hard place. This is the environment Canadian negotiators find themselves facing. Of course, one small misstep not only has the potential to send talks screeching to an abrupt halt but also the very real possibility of being on the bruising end of this unhinged president's scathing tirades. At a recent cabinet meeting, Trump made news announcing the United States' plans to impose a new 50 per cent tariff on all copper imported into the country. The pronouncement sent shockwaves through the markets and took Canadian leaders by surprise. Industry Minister Melanie Joly shot back: 'We'll fight against it. Period.' Melanie Joly Minister of Industry Melanie Joly speaks to reporters in the foyer of the House of Commons on Parliament Hill in Ottawa on Wednesday, June 4, 2025. THE CANADIAN PRESS/Sean Kilpatrick (Sean Kilpatrick/The Canadian Press) According to data, the U.S. was Canada's largest copper importer in 2023. In a Truth Social post, Trump's ominous message portends the upheaval that is on the horizon. He stated, 'America will, once again, build a DOMINANT Copper Industry. THIS IS, AFTER ALL, OUR GOLDEN AGE!' Threatening to choke off all imports, the president's menacing disposition towards key trading partners continues to stunt U.S.-based businesses and damage consumer confidence as well as create massive disruptions to the global supply chain. Not stopping there, Trump is also threatening an astounding 200 per cent tariff on pharmaceuticals, which he says are coming very soon. Like copper imports, pharmaceuticals account for a sizable share of drugs and medicines shipped to the United States from Canada. Canadian Generic Pharmaceutical Association President Jim Keon says he is hopeful that a trade agreement currently being negotiated between Canada and the United States will provide relief for the nation's pharmaceutical industry. Friendship, trust 'are all gone' However, much like the incessant threats and flummoxing tariff rates, it is anyone's guess if Ottawa's leaders can reach a mutual endgame that keeps six decades of seamless economic integration intact. The president has spoken very glowingly of Prime Minister Mark Carney. He has showered him with praise and adulation since his election victory. However, the American strongman has not let that stop him from lambasting Canada; armed with disinformation to advance aims and objectives meant to inflict maximum harm and damage. The twice-impeached convicted felon has shown remarkable ability separating respect for Carney and disdain for the United States' largest trading partner. North America's flow of goods, services, and products across borders is the envy of the world. Canada, the United States, along with Mexico have created a regional economy that served as the bedrock of integration, innovation, and cooperation. However, in just six months, the so-called master negotiator and principal of the 'art of the deal' has only succeeded in destroying relationships, erecting barriers, and fomenting discord. Friendship, mutual respect, and trust are all gone; in their place are enemies, disdain, and suspicion. This is the climate Canadian leaders now find themselves in as they traverse an intractable and unforgiving political and economic terrain. D-Day is less than 30 days away and in a White House too often shaped by the daily or hourly whims of an unpredictable and volatile president, time, nor reason, or even logic are on the side of Canada's negotiators. Even after empirical data has shown the Liberation Day tariffs to be a colossal failure, the king of bankruptcy continues to double down on a signature economic program with no upside. Still, Washington and foreign capitals across the globe doggedly and determinedly seek to find the silver lining. Searching for answers in a sea full of questions and inertia. Yet amid the turmoil, the dysfunction, and the unceasing bromides Ottawa presses forward. Unyielding as it admirably forges ahead upholding a system of mutual gain; an ethos grounded in trust; and a dogma guided by unity. Creeds the White House seems to abhor. Principles that Trump clearly eschews. Still, Ottawa continues to extend itself but alas, Washington is no longer there reaching back.
