What's next for the $43.5 billion dollar Canola industry with 25% tariffs implemented

With U.S. President Donald Trump implementing 25% widespread tariffs on Canadian products this last Tuesday, Canadian agriculture and the canola industry is preparing for the repercussions and weighing their options ahead of the 2025 growing year. The focus now shifts to not only restoring trade relations between Canada and the U.S. but also looking at ways to improve the industry both internationally and domestically. Chris  Davison, President and CEO of the Canola Council of Canada, talks about the importance of Canadian canola on the economy and the next steps for the canola industry.  

"I think it's important to start with a recognition of the significance of the canola industry to the Canadian economy and that includes $43.5 billion contribution annually to the economy. It includes some 206,000 jobs and more than $16 billion in wages. That's obviously where the significance of this decision by the U.S. comes into play and we've been very clear that the imposition of any tariffs on Canadian canola and canola products would have a negative impact.”