Company hikes dividend, though earnings fall 33% on lower prices
Farmers in the United States will be the ones absorbing any additional expenses if Donald Trump’s planned tariffs take effect next month, says Nutrien Ltd. chief executive Ken Seitz.
“The costs of this would be borne by the U.S. farmer; the tariff cost and tariff impact will be passed onto the U.S. farmer,” he said on a fourth-quarter earnings call with analysts, adding that American farmers are very dependent on Canadian potash. “Canadians supply over 80 per cent of that market.”
Seitz said agricultural trade and food security depend on the movement of goods between the two countries, so Nutrien has been talking with elected representatives in both Canada and the U.S. about the importance of having a free flow of agricultural goods. “We struck up a cross-functional team, which extends across our government relations group, our commercial organization, to make sure we can serve our U.S. customers in the way that we always have,” he said.
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