New Canadian Tariffs Target Prepared Beef Products
Now there are three. A trio of nations are now implementing tariffs against American beef; China, Mexico and Canada. As of July 1st, Canada has implemented a 10% tariffs against all U.S cooked and prepared beef products. USMEF Trade analyst Jessica Spreitzer said this latest tariff will impact roughly 1/5 of all American beef entering Canada. And she notes, with roughly $770 million exported to Canada last year in this one category, the tariffs add up fast.
“Under these tariff lines that are impacted by the higher duties, the import data show there was $164 million last year of these products. So that means our impacted beef products would account for about 21% of the import value that we sent last year to Canada, so it is a significant portion of what we’re sending to Canada.”
Spreitzer said since these tariffs are not against cuts, the additional costs will not be spread across the industry, meaning specific companies will shoulder the load. Canada is consistently a top five market for U.S. beef exports.
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