Canadian tariff 275% on dairy?

Today President Trump tweeted that Canadian tariff on diary products are 275%, the soybean price has been dipped 50%, and US farmers are not doing well for 15 years. Really? Let’s check into those numbers.

We looked into Canada’s “Custom Tariff 2017” documents.

Here are what we found:

Daily:

  • Milk       243%
  • Butter    299%
  • Yogurt   238%
  • Cheese 245%

Others:

  • Beef        27%
  • Chicken 249%
  • Salmon     2%
  • Turkey   170%

(source: https://www.cbsa-asfc.gc.ca/trade-commerce/tariff-tarif/2017/01-99/01-99-t2017-eng.pdf)

Trump’s 275% seems to be the right range…

Now soybean price. According to the chart from Macrotrends:

  • June 16, 2012  $17.575 per bushel
  • June 25, 2018    $8.625 per bushel

(source: https://www.macrotrends.net/2531/soybean-prices-historical-chart-data)

From the peak 2012, soybean price is down about 51%.

Lastly, checking on how US farmers are doing well in regards to US agricultural exports by digging out US Department of Agricultural export and import database.

(unit: billion)
2003   $59
2004   $61
2005   $63
2006   $71
2007   $90
2008 $115
2009   $98
2010 $116
2011 $136
2012 $141
2013 $144
2014 $150
2015 $133
2016 $135
2017 $138

(source: https://apps.fas.usda.gov/gats/ExpressQuery1.aspx)

By looking at these numbers, export is not doing well last 5 years but not last 15 years. US agricultural exports increased during 2003 and 2014 then it peaked out and dropped drastically. We will track how this may turn around after Trump’s trade negotiations with other countries.

 

Trump Tracker: https://hcw68.app.goo.gl/p6u5

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