TORONTO, The vast majority of Canadian agri-businesses (88%) say Canada should strengthen trade ties with other countries besides China and the U.S. due to rising trade tensions, finds new data by the Canadian Federation of Independent Business (CFIB).
China's retaliatory tariffs on Canadian agricultural and seafood products are affecting about a third (36%) of Canadian agricultural businesses, with nearly one in four (23%) taking a direct hit.
"While the focus has been on the U.S. tariff battle, Canadian agri-businesses have been even more deeply harmed by China's tariffs on canola oil, canola meal and peas, as well as certain pork, fish and seafood products. These producers need greater attention and support," stated Juliette Nicolaÿ, bilingual policy analyst at CFIB. "While about one in four agri-businesses have taken steps to mitigate tariff impacts, only 10% of agri-businesses say that governments have done enough to support affected firms."
CFIB is calling on government to take urgent action to push back against this unfair treatment and has sent a letter to the federal government, urging it to reduce the tax and regulatory burden on agri-business, ensure support programs properly address the scope of the current challenges and assist agri-businesses in navigating new markets.