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Canada’s tariff deal with China is getting another stamp of approval, with Mike Tate, CEO of Regina and District Chamber of Commerce, calling the deal monumental.
“The Canola Council of Canada estimated that Canadian canola exports to China fell by more than 50 per cent in 2025 as a result of those tariffs, and with our significant canola production and exports, we feel the brunt of that,” he said.
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The deal announced Friday will see Canada allow up to 49,000 Chinese-made electric vehicles into the market annually, with a 6.1 per cent tariff applied to their imports.
In exchange, China will reduce levies on canola seed from 100 per cent to 15 per cent by the end of this year and lower tariffs on canola meal, lobsters, crabs, and peas from March until at least the end of 2026.
He said agriculture is the most tangible sector of our province’s economy, and it’s one of the most contributing sectors nationally.
“So when you’ve got deals that rectify or de-escalate the retaliatory tariffs and increase the bilateral trade between Canada and China, it can only help an ag hotbed like Saskatchewan,” he said.
At the beginning of 2025, two major canola crush projects worth billions of dollars in the Regina area were put on hold.
The Federated Co-operatives Ltd. (FCL) paused its canola crush and renewable diesel plants. The company pointed to regulatory and political uncertainty, rising costs, and potential shifts in low-carbon public policy.
Viterra’s plans to build the world’s largest integrated canola crush facility north of Regina, announced in 2021, are also uncertain after it merged with Bungee.
Tate said the agreement reached by Prime Minister Mark Carney, Premier Scott Moe and Chinese leaders could help those paused canola crushing plants.
“It helps businesses plan and invest,” he said. “Steps that reduce tariffs and uncertainty help improve market access and restore confidence, completely (and) positively impact Regina’s business community.”
However, predictability and certainty also play a key role, and the current deal only lasts until the end of 2026 and doesn’t begin until March.
Tate said seeing Moe advocate for the province spoke volumes for the future.
“It’s monumental, it really is,” he said. “When you’ve got direct participation that directly impacts our economy, there (isn’t a) more important person to be at that table in terms of our premier, and the fact that Prime Minister Carney was alongside.”
He said it was refreshing to see the premier and the prime minister work together.
“I think it does signify that the doors are open, we’re open for business” he said.
“I think it goes well beyond just the strategic partnership that’s been created but signifies the future relationship with our province, the prime minister, and even just all the opportunities that are going to be around our diversification efforts in terms of exports.”
Tate said a silver lining to come out of the tariffs is the emphasis and conversations that have started around diversification.
“The United States is our golden goose, but when you take that away, or you disrupt it, it just continues to emphasize the importance of diversification,” he said.
“China and India are world leaders in terms of population and consumption of our exports. So we need them more than anything.”
— with files from 980 CJME’s Lisa Schick, Geoff Smith and The Canadian Press
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