Chinese tariffs on U.S. soybeans will cause global disruption, says Soy Canada
MONTREAL — Canada’s soybean producers say China’s expanded list of tariffs to be applied on U.S. products will cause global disruptions and uncertainty.
China retaliated Wednesday against U.S. plans to apply tariffs on 106 imports by issuing a US$50-billion list of U.S. goods including soybeans, whisky, beef, industrial chemicals and small aircraft for possible tariff hikes in the escalating dispute.
Soy Canada executive director Ron Davidson says the 25 per cent levy on U.S. goods could create some opportunities for Canadian exporters, but also force Canada to defend sales to 69 other countries.
Canada sold nearly five million tonnes of soybeans valued at $2.7 billion to China last year.