Alberta’s industries, especially agriculture and beef producers, are bracing for the possible implementation of sweeping U.S. tariffs under the incoming administration of President-elect Donald Trump. The uncertainty has left producers grappling with potential economic fallout.
The Alberta Cattle Feeders Association highlighted the difficulty of planning ahead amidst speculation. Janice Tranberg, its president, noted the significant “what ifs” surrounding the situation. For farmers like Ryan Kasko of Kasko Cattle Company, a 25% tariff could slash $1,000 per head of cattle, potentially leading many farms to bankruptcy.
Beef, a cornerstone of Alberta’s agricultural exports, brought $3.1 billion to the U.S. market in 2023. Other top exports include crude canola oil, live cattle, processed potatoes, and oilseed products. The threat of tariffs could disrupt these industries and impact food prices in both countries, especially in a time of rising inflation.
Alberta’s Agriculture and Irrigation Minister RJ Sigurdson expressed grave concerns about the tariffs, emphasizing the importance of maintaining trade relationships. Last year, Alberta exported $8.9 billion in agricultural and value-added products to the U.S., showcasing the high stakes of potential restrictions.
Businesses like Rangeland RV, which rely on cross-border trade for materials, also foresee challenges. Cody Nielsen, vice president of sales, warned that tariffs could increase costs and disrupt supply chains, affecting pricing and timelines.
The Calgary Chamber of Commerce urged against retaliatory measures, arguing that counter-tariffs could amplify economic strain. Energy, which accounts for 25% of Canada’s exports and $150 billion in annual trade with the U.S., could suffer reduced value under trade disputes.
The Chamber advocates for a unified “Team Canada” approach, emphasizing collaboration among provincial and federal leaders to navigate the complex situation. Balancing local needs with national solidarity remains a priority.
While the potential tariffs create economic uncertainty, Alberta’s industries are working proactively to mitigate risks. Open dialogue with U.S. policymakers and trade allies is crucial to safeguarding the province’s economic future.