Canadian farmers are facing a two-front trade war, with China’s tariffs on Canadian canola oil, canola meal and peas taking effect on Thursday and U.S. tariffs expected on additional Canadian products within two weeks.
U.S. and Canadian biofuel companies are throttling back production to limit losses amid uncertainty over U.S. President Donald Trump's approach to green fuel subsidies and the potential for a worsening trade war.
Fertilizer producer Nutrien said on Thursday U.S. President Donald Trump's proposed tariffs on Canadian imports will increase costs for American farmers.
Hundreds of Canadian farmers have received delayed payments for their crops or not been paid at all, as a growing number of grain-buying firms declare bankruptcy amid drought and low commodity prices, according to interviews with dozens of farmers, a government agency, and a review of bankruptcy documents.
Canadian farmers are renegotiating livestock contracts with U.S. buyers and finding local markets for crops they previously planned to sell south of the border to minimize the economic hit from potential new U.S. tariffs.
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