Liberals downplays export losses, touts domestic food supply

Canadians will continue to have access to plenty of food despite steep foreign tariffs on farm and seafood products, Finance Minister François-Phillipe Champagne said Wednesday.

Blacklock's Reporter says he did not address how producers would offset billions in lost exports.

“Our agriculture and agri-food sectors ensure that Canadians wherever they live in our big country have access to fresh, nutritious and affordable food,” Champagne told reporters.

“It means we don’t have to rely on imports to feed our families.”

He emphasized Canada’s ability to produce its own food, calling it vital for economic sovereignty. “That has never been more important than it is now,” he said.

Farm and seafood exports are valued at over $99 billion annually, with U.S. buyers accounting for 60% of sales, according to official estimates. Canada ranks as the world’s 8th largest food exporter, behind the United States, Brazil, the Netherlands, Germany, China, France, and Spain.

Despite the heavy reliance on exports, Cabinet has proposed a $200 million Domestic Food Processing Fund to “build more domestic processing capacity” if re-elected.

Other initiatives include expanded loans through Farm Credit Canada and a doubling of loan guarantee limits to $1 million under the Canada Agricultural Loans Act.

The AgriStability Program’s revenue protection was also doubled from $3 million to $6 million per farmer to help mitigate tariff-related losses.

Agriculture Minister Kody Blois previously warned of the severe consequences of foreign tariffs.

“Tariffs will have a devastating impact on our farm families,” he said March 22, following China’s decision to impose 100% surtaxes on Canadian canola and peas, along with 25% tariffs on pork, fish, and seafood.

“We are working hard to diversify our trading partnerships and establish new markets,” Blois added, without providing specifics.

Canada has maintained its status as a net food exporter since Confederation.

A 2023 study by Leiden University in the Netherlands ranked Canada as the fourth most self-sufficient country in the world, based on the proportion of land required to sustain its population.

The study found Australia, Argentina, and New Zealand to be the only nations more self-sufficient than Canada.