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C.D. Howe Institute memo by Guy Saint-Jacques questions whether trade with China is still worth pursuing amid the diplomatic crisis over Huawei CFO Meng Wanzhou's extradition.
It notes Canadian exports to China fell 16% in 2019 ($4.5 billion), with canola and pork hit hardest, and that exports in the first half of 2020 fell less than 1% year over year.
Ongoing diplomatic tension raises the risk of non-tariff barriers on Canadian canola and pork, which can pressure canola prices and feed meal demand. Stable 2020 export flows limit the immediate price impact.
cdhowe.orgSep 8, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
