Because of the Chinas prohibition on beef and pork purchased from Canada, the economic cost to their industry is about $100-million mentioned by Canadian meat-packers and processors
The Canadian Meat Council containing 55 federally approved meat packers and slaughterers mentioned it has asked for financial aid from the federal government, because there is no industry’s fault in whatever is happening, but the industry is surely suffering.
After Canada arrested a senior Chinese tech executive at the Vancouver International Airport in Dec, the agricultural sales to China massively decreased
China has frequently asked Canada to set free the Huawei Technologies Co. Ltd. chief financial officer Meng Wanzhou, but he was kept arrested on U.S. extradition request. The executive is expected to stay in Canada especially after the Canada-U.S. extradition treaty. The Americans claim Ms. Meng assisted the company go against U.S. economic sanctions against Iran.
Soon after her arrest, China boycotted Canadian canola seed and soybeans and also the Canadian pork and beef later in June.
The packers and slaughterers indicated that the tension is increasing as the days pass.
The president of the Canadian Meat Council highlighted that if no actions are taken to resolve this issue, the labor will have to be cut down thus resulting in greater unemployment. Because of the unforeseen closing of China’s market, the meat inventory is being sold at cut down prices to other areas. He further added, the industry wants the government to make a clear plan about their trading with China
He mentioned, China is our second-largest importer yet the government’s strategy with china is very unclear. He is positive that assigning a new ambassador to China might help Canada. The meat industry is asking all the political parties to come up with a plan to sort out this matter.