Concerns About U.S. And China DisputeApril 6, 2018 6:05am
Grain Farmers of Ontario is suggesting that although a trade dispute between China and the United States may offer some opportunities for Canadian soybeans, in the end the dispute could have a negative impact on the Canadian soybean industry.
GFO is the province’s largest commodity organization, representing Ontario’s 28,000 barley, corn, oat, soybean, and wheat farmers,
The proposed Chinese tariff on U.S. soybeans of 25 percent could impact Ontario grain farmers through increased competition in global markets and an increased volume of soybeans coming into Canada.
As of 2016, the United States was shipping at least 35 million tons of soybeans to China, while Canada ships closer to two million tons each year.