Canada has suspended pork imports from Smithfield Foods' facility in North Carolina amid ongoing trade tension between the U.S. and Canada. This action is part of Canada's policy, which triggers a temporary suspension after three compliance issues arise. The U.S. Department of Agriculture indicated that the suspension is based on standard protocols rather than recent trade disputes. Export activities will be affected, limiting the U.S. pork market in Canada, which represented a significant portion of U.S. agricultural exports valued at approximately $850 million last year.
Under Canada's policy, three noncompliance issues within six months trigger a temporary suspension. The issue pertains to a limited number of certain offal shipments.
Blocking shipments from the plant limits a market for U.S. pork products. Smithfield shares were nearly flat on Friday, illustrating the immediate impact of the suspension.
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