The latest tariff delay includes items covered under the USMCA. However, tariffs could be on the way for other goods coming out of Canada.
President Trump is looking at Canadian dairy and lumber imports. He told reporters in the Oval Office that Canada has a tremendously high tariff, making it impossible for U.S. to sell lumber or dairy there. Dairy groups have argued for years that there are too many trade barriers for accessing Canadian markets.
Lumber has also been at the center of debate, with the U.S. accusing Canadians of benefitting from subsidies from federal and local governments.
Related Stories
Global agriculture is stabilizing after years of price swings, with flat to modestly rising returns expected as productivity offsets slower demand growth.
Expect incremental near-term lift for feed grains, proteins, and ethanol as tariff cuts and smoother approvals translate into real orders.
Cattle markets are collapsing this week, and analysts say that several factors are at play. Consumer beef prices also remain near all-time highs, threatening long-term demand.
If confirmed, early Chinese buys tighten nearby Gulf/PNW capacity and could bump basis in export-oriented regions.
Trade pacts with Malaysia and Cambodia unlock tariff-free and preferential lanes for key U.S. farm goods, expanding long-term demand in Southeast Asia.
The idea of buying more beef from Argentina does not sit well with much of farm country, raising some questions from analysts and producers.
