Canadian beef producers keeping close eye on trade dispute between China, U.S.
MEDICINE HAT — Many Canadian industries are keeping a close eye on a budding trade war between the United States and China
China is threatening retaliatory tariffs against the U.S. if they implement further duties on goods. One of those products could be beef.
The Canadian Cattlemen’s Association says it’s concerned that if tariffs are enacted, it could mean a flood of excess beef, which would push prices down for Canadian producers.
However, Dennis Laycraft, executive vice president of the association, says the restructured Trans-Pacific Partnership deal will help open up new and expanded markets in Asia for Canadian beef. Currently, less than 1 per cent of Canadian beef exported goes to China or southeast Asia.