Nutrien says tariffs will lead to higher costs for US farmers

By 
Ed White
Reading Time: < 1 minute

Published: February 21, 2025

,

Nutrien says tariffs will lead to higher costs for US farmers

Fertilizer producer Nutrien said on Thursday U.S. President Donald Trump’s proposed tariffs on Canadian imports will increase costs for American farmers.

Trump plans to place a 25 per cent tariff on Canadian imports, which will take effect in March after granting a 30-day extension.

“Frankly, costs of this (tariff) will be borne by the U.S. farmers…the U.S. farmers will likely feel the impact after the spring planting season,” CEO Ken Seitz said during a post-earnings conference call.

Read Also

Photo: JHVEPhoto/Getty Images Plus

U.S. grains: Corn sets contract lows on expectations for big US crop

Chicago Board of Trade corn futures set contract lows and soybean futures sagged on Friday on expectations that beneficial weather for U.S. crops will lead to bumper harvests, analysts said.

Nutrien has assembled a team from various departments to manage tariff-related operations, including duty collection.

Seitz said U.S. farmers will be able to get fertilizer for the upcoming spring planting season. Weather problems in late 2024 prevented some fertilizer applications U.S. farmers planned to do, officials said, leaving more needed in 2025. U.S. farmers are expected to plant more than 90 million acres of fertilizer-hungry corn this spring, leaving the company optimistic about its 2025 U.S. demand outlook.

The potential end of the war between Russia and Ukraine isn’t seen as a threat to 2025 Nutrien sales, Seitz said, since Russian potash has already been reaching the market and Belarusian supplies, presently under sanction by the European Union and others, will have trouble reaching markets through Europe.

Belarus has been cut off from Lithuania’s main port. It will have trouble getting access regardless of sanctions, and will probably have to move through Russia to reach world markets. Belarusian idle production won’t come back fast.

“We think that happens slowly over time,” said Seitz.

About the author

Ed White

Ed White

Reporter

Ed White is a reporter with Glacier FarmMedia and has specialized in markets coverage since 2001 and has achieved the Derivatives Market Specialist (DMS) designation with the Canadian Securities Institute.

explore

Stories from our other publications