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CTV News
6 days ago
- Business
- CTV News
‘Devastating blow': Alberta responds to 75.8% Chinese tariffs on Canadian canola
Pumpjacks draw out oil and gas from well heads surrounded by Canola fields near Cremona, Alta., Monday, July 15, 2024. THE CANADIAN PRESS/Jeff McIntosh Alberta is responding to the announcement by the Chinese government that a 75.8 per cent anti-dumping duty will be imposed on Canadian canola starting on Thursday. The province produces about one-third of Canada's canola, about 6.4 million tons a year. 'China's decision to impose a 75.8 per cent tariff on additional Canadian canola products is another devastating blow to Alberta's agriculture industry. 'This comes on top of the existing 100 per cent tariffs on canola oil, canola oil cake and peas and threatens to cut Alberta producers out of one of their most valuable markets almost entirely,' R.J. Sigurdson, minister of agriculture and irrigation, wrote in a statement on Tuesday. 'These tariffs by China are in response to the federal government's decision to impose 100 per cent tariffs on Chinese electric vehicles and 25 per cent tariffs on steel and aluminum, effective October 2024. Alberta's farmers, ranchers and processors did not create this situation, yet they are paying the price. 'Alberta is once again calling on Ottawa to act swiftly, engage in constructive dialogue with China, and restore access to one of our most critical markets before more livelihoods are lost.' The province's calls for federal intervention are echoed by the Alberta Canola Producers Commission. 'We've seen it in softwood lumber, we've seen it in other industries where there's the threat of tariffs,' board chair Andre Harpe told CTV News Edmonton. 'The federal government is doing a lot of work with them. We need them to be as serious with canola as they are with other industries that are under the threat or tariffs are happening.' Harpe, a canola farmer himself, says the tariffs could devastate farmers. 'I woke up this morning, as most canola farmers did, seeing that we had lost about $1 a bushel in the value of our product that we want to sell this year. So quite roughly, that's seven per cent of our income that we potentially could lose just just overnight by just having the Chinese make that announcement,' he said. 'Obviously we're going to be waiting to see what the long lasting effects are, and to see if they actually go through with this tariff.' China is Canada's second-largest canola market. The largest export market for Canadian canola is the United States, where Canadian exports not compliant with the Canada-United States-Mexico Agreement are subject to 35 per cent tariffs. With files from CTV News Edmonton's Evan Kenny
Wall Street Journal
01-08-2025
- Business
- Wall Street Journal
Lumber Prices Hit a Three-Year High
The U.S. raised its antidumping duty Tuesday on Canadian lumber imports from most producers to nearly 21% from 7.7%, the sharpest year-over-year increase yet in the long-running softwood trade dispute. The Commerce Department said it would impose a higher countervailing duty in the coming days. The combined rate is expected to be around 35% for most Canadian producers, up from less than 15%.
Bloomberg
19-06-2025
- Business
- Bloomberg
Carney to Roll Out Plan to Help Canada's Tariff-Hit Steel Sector
Prime Minister Mark Carney is expected to announce steps to support Canadian steel and aluminum producers whose exports to the US have been pummeled by President Donald Trump's 50% tariffs. Carney will hold a news conference in Ottawa at 1 p.m. local time. He will outline new measures to keep the sectors afloat while Canada tries to work out a deal with the Trump administration, according to people familiar who asked not to be identified as the plan is not yet public.
CTV News
07-06-2025
- Business
- CTV News
AGLC to bring back liquor from United States ‘effective immediately'
A sign is placed in front of the American whiskey section at a B.C. liquor store after top selling American made products have been removed from shelves in Vancouver, Sunday, Feb. 2, 2025. THE CANADIAN PRESS/Ethan Cairns Alberta Gaming, Liquor and Cannabis (AGLC) will resume selling liquor products from the United States after a three month pause. In March, the AGLC stopped the sale of all American alcohol products. On Friday, the AGLC announced it will 'resume accepting liquor products from the United States, effective immediately,' at the direction of the provincial government. This will affect all liquor products registered with the AGLC and declared to Canada Border Services Agency. Products that were shipped from the U.S. after March 4 will continue to be subject to a surtax of 25 per cent of the invoice price, the AGLC added. The initial decision was made to support Canadian producers in the wake of U.S. tariffs, Premier Danielle Smith said in March. 'If the Americans aren't going to buy products from our Canadian companies, we have to,' the premier said. 'That means we should be buying more Canadian beer, more Canadian spirits and more Canadian wine. And so that's the reality of what we're facing.' CTV News Edmonton reached out to the province to ask why the decision to resume selling U.S. liquor was made. With files from CTV News Calgary's Kevin Green
CTV News
05-06-2025
- Business
- CTV News
Additional steel tariffs increasing pressure on Canadian producers
Additional steel tariffs increasing pressure on Canadian producers CTV News' Kamail Karamali says Canadian steel producers have described Trump's additional tariffs as 'a crushing blow' to the industry.
