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Nutrien Ltd
Symbol NTR
Shares Issued 493,909,869
Close 2024-11-27 C$ 64.63
Market Cap C$ 31,921,394,833
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Globe says tariffs will hurt potash makers like Nutrien

2024-11-28 08:11 ET - In the News

The Globe and Mail reports in its Thursday, Nov. 28, edition that a hefty tariff on exports to the U.S. risks severely bruising producers across Canada's agricultural landscape. The Globe's Pippa Norman writes that farmers in the U.S. say a sudden rise in new tariffs could raise food prices in the U.S. and hurt producers that rely on exports if Canadian reprisals occurred. Fertilizer is a key U.S. concern. Canada supplies 87 per cent of the potash imported into the U.S., supplying more than half of what is applied by the country's farmers. Nutrien is a producer of potash. American Farm Bureau Federation vice-president Sam Kieffer says, "Policies that would cause fertilizer prices to skyrocket again would have a ripple effect throughout the food system." At the same time, Mexico and Canada are the top two destinations for U.S. agricultural exports, buying a total $59-billion (U.S.) a year in U.S. product. Mr. Kieffer says, "When tariffs are levied by the U.S., foreign governments often target American agricultural exports for retaliation." He adds, "It remains to be seen whether this is a negotiating tactic or a foregone conclusion, but any final decision must take into consideration the impact on farm families."

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