Canola farmers in B.C.’s Peace Region are warning of major losses. It comes as China slaps new tariffs on the Canadian seed just weeks before harvest. It's a retaliatory tariff of 75.8%. China sources nearly all of its canola from Canada but the countries remain in a trade fight.
Breakdown
- Canola prices have dropped from $26–$27 to around $13 per bushel, below the break-even point for farmers. 9s
- Farmers could face losses of up to $200 per acre, depending on the size of their operations. 29s
- The decline in canola prices and Chinese tariffs significantly impact the local economy in Fort St. John and Dawson Creek. 44s
- Farmers are seeking clearer support from the federal government and want renewed trade talks with China. 1m 18s
- A resolution with China could quickly improve prices and alleviate farmer concerns. 1m 49s
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Global Tariffs
Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.