FCC eyes $12B food export shift to cut reliance on U.S. market

Farm Credit Canada says $12 billion worth of Canadian food and beverage exports could be redirected away from the U.S. as tariffs strain cross-border trade. The Crown corporation’s new report recommends “strengthening interprovincial trade, leveraging existing trade agreements and establishing new international trading partnerships” to cut U.S. dependence in half from 2023 levels. “This commodity category presents a strong opportunity for furthering Canada’s export market diversification,” the report said of prepared foods, noting the sector’s $8.6 billion in exports last year went mostly to the U.S.