Canada
Following President Trump’s decision to impose 25% tariffs on Canada and Mexico, Canada announced its own 25% tariffs on $155 billion worth of U.S. imports. Mexico also announced its own retaliatory measures, but no specifics were unveiled as of Sunday morning.
U.S. farmers and various trade groups are very apprehensive about not only the potential negative impacts of tariffs on the U.S. ag sector, but what they do to garner new trade agreements.
Bryan Doherty with Total Farm Marketing says most markets had a negative reaction to to the 25% tariffs on Mexican and Canada starting this weekend and possible retaliation.
Randy Martinson, Martinson Ag, says grain and hog markets opened lower reacting to President Trump announcing Thursday afternoon the U.S. would be moving ahead with 25% tariffs on Mexico and Canada on Feb. 1.
Speaking from the Oval Office, Trump justified the tariffs as a response to what he described as excessive migration, drug trafficking and unfair trade practices. While he suggested the tariff rate could further increase, he indicated a decision on whether oil imports would be exempt would come soon.
Lutnick repeatedly called for restoring “reciprocity” in trade with other countries.
Canada has been making news lately in the U.S., between feisty trade talks and the surprising announcement by Prime Minister Justin Trudeau that he will resign. For an ag insider’s take on these events and more, Tyne and Clinton talk with Shaun Haney from RealAgriculture, Canada’s leading national agriculture publication, on this episode of Unscripted.
Canada is preparing for potential trade challenges following Trump’s threat of a 25% tariff on Canadian imports. The Canadian government is considering a proactive approach, including the possible early release of a retaliatory tariff list.
Trudeau also announced parliament would be prorogued, or suspended, until March 24. That means an election is unlikely before May at the earliest, so Trudeau will remain in charge - at least initially - of dealing with the threat of crippling tariffs once U.S. President-elect Donald Trump takes office on Jan. 20.
The Fertilizer Institute’s 2024 Fertilizer Industry Economic Impact Study details the contributions of the U.S. fertilizer industry to the economy and also explains the global nature of fertilizer markets.
Nutrien focuses its business on helping feed a growing global population “from the ground up.”
Mike Minor, Professional Ag Marketing, says the markets shook off tariff talk and saw positioning end of month and before first notice day Friday.
Jim McCormick, AgMarket.Net, says corn and soybeans slid on possible tariffs being placed on Mexico, Canada and China. Wheat ends higher on short covering.
Trump said he would impose a 25% tariff on imports from Canada and Mexico until they clamped down on drugs, particularly fentanyl, and migrants crossing the border, in a move that would appear to violate a free-trade deal.
The British Columbia ports labor dispute continues, impacting exports at Canada’s biggest port in Vancouver with no sign of negotiating progress.
Exports of Canadian grain for the first month of the 2024-25 marketing year were off to a good start with data from the Canadian Grain Commission showing increases for several crops.
The wrath of wildfires is something Canada knows all too well. 2023 was an historic season, and 2024 is off to an active start with some fire forecasters saying 2024’s wildfire threat could rival 2023.
In October 2023, Arkansas became the first state to ban foreign-owned farmland. More states look to adopt similar laws, but one policy expert says the issue is rooted in politics and warns of unintended consequences.
During a bilateral meeting on Thursday, U.S. Trade Representative Katherine Tai discussed with Mexico’s Secretary of Economy Tatiana Clouthier various issues concerning energy and biotech corn.
Representatives from the U.S., Mexico and Canada will meet in Cancun, Mexico this week to discuss a series of disputes, including Mexican energy and biotech policies and Canadian dairy barriers.
Currently, foreign meat that is processed in U.S. plants can be labeled “Product of USA.” Arun Alexander, Canada’s deputy ambassador, isn’t convinced this is a good practice.
As Ontario, Canada farmer Julie Maw scouts her wheat fields, it’s the moment of truth for the record number of acres planted across the province this year.
Mexico and Canada had challenged the U.S. method for calculating the regional content required under the USMCA trade pact for cars to have tariff-free access to the U.S.
Mexican President López Obrador hosted President Biden and Canadian Prime Minister Trudeau this week to discuss everything from methane reduction to the U.S./Mexico border wall.
Farmers who don’t comply with the recommendations won’t face any consequences, said the spokeswoman for the ag department. They would, however, forgo financial aid and grants the government made available to farmers.
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And “twin sister” consecutive serial number Massey Ferguson tractors sell in Canada.
President Donald Trump risks triggering a “depression” in the nation’s rural areas if he withdraws from NAFTA, Iowa Republican Senator Chuck Grassley said in Feb 2018.