Huawei Drama Sparks Concern Canada's Exports Could Become Target
- Farmers worry China could retaliate against canola: FarmLink
- Lumber companies, insurers monitor fallout from Huawei arrest
Trucks deliver raw lumber yard at a mill in Thunder Bay, Canada, Ontario.
Photographer: James MacDonald/Bloomberg
Brewing tensions between Canada and China following the arrest of a Huawei Technologies Co. executive have some exporters worried they could be caught in the crosshairs if the Asian nation decides to retaliate.
China is one of Canada’s biggest buyers of agricultural products from oilseeds to softwood lumber and is a growing market for the nation’s banks, insurers and luxury-good makers. Escalating tensions have stoked concern that some companies could see their markets upended after the Chinese threatened “severe consequences” following the arrest of Huawei Chief Financial Officer Meng Wanzhou in Vancouver at the request of U.S. authorities.