Canadian canola industry could take $1B hit in wake of Chinese trade actions: report

Amanda Stephenson, The Canadian PressCALGARY —

“While there is no certainty on when China will levy tariffs, how meaningful they could be, and for how long they would remain in place, the tariffs could have a meaningful impact,” the report stated, warning both global canola trade flows and Canadian grain handling companies could be affected. The move to target canola came days after Canada announced a plan to impose tariffs on Chinese-made electric vehicles, steel and aluminum.

Industry estimates peg the cost to the Canadian canola sector of that action at $1.5 billion to $2.4 billion between 2019 and 2020.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Canadian canola industry could take $1B hit in wake of Chinese trade actions: ReportCALGARY — Canada's canola industry could take a $1-billion hit in the wake of Chinese trade actions, according to a new report from an international credit rating agency.
Source: SooToday - 🏆 8. / 85 Read more »

Canadian canola industry could take $1B hit in wake of Chinese trade actions: ReportCALGARY — An international credit rating agency says Canada's canola industry could take a $1-billion hit in the wake of new Chinese trade actions.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »