U.S. Corn Trade War Inches Closer

by 5m Editor
16 March 2006, at 12:00am

OTTAWA - Ottawa moved closer yesterday to a trade war with Washington over U.S. farm subsidies that could see long-term tariffs on grain corn imports - a measure opponents warn could drive up the cost of everything from tortilla chips to livestock feed. Critics caution it could prompt a backlash from the U.S. government and lead to retaliatory tariffs on Canadian products. Yesterday the Canadian Border Services Agency rendered a final decision on imports of U.S. corn, saying its probe found unprocessed grain corn is being subsidized and dumped in Canada at cut-rate prices. Hearings begin Monday in Ottawa on whether Canadian corn growers are being injured by U.S. imports. They will determine, by mid-April, whether Ottawa moves ahead with the trade conflict. Source: The Globe And

5m Editor