Quebec’s maple syrup producers say they hope Americans will be willing to pay more for the sweet stuff if President Donald Trump imposes tariffs that would drive up the price of the popular pancake topping south of the border.
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Hours after taking office on Monday, Trump told reporters he’s considering imposing 25 per cent across-the-board tariffs on imports from Canada and Mexico as of Feb. 1.
If that happens, it would increase the price of Quebec maple syrup in the U.S., said Joël Vaudeville, spokesperson for Quebec’s association of maple syrup producers, Producteurs et productrices acéricoles du Québec.
“For us, there’s definitely cause for concern. We could see a drop in demand on the American market with the imposition of tariffs,” Vaudeville said.
Last year, Quebec exported around $368 million worth of maple syrup to the U.S., around 62 per cent of the province’s maple syrup exports.
“It’s important to keep in mind that the United States is not self-sufficient when it comes to maple syrup, and our very dominant position in the international maple syrup market means the United States can’t turn to other clients to buy maple syrup. Quebec really is the world’s No. 1 source,” Vaudeville said.
Around 72 per cent of the world’s maple syrup is produced in Quebec, including more than 90 per cent of Canada’s production. Most of that pours outside Canada’s borders, with around 85 per cent of Quebec’s crop destined for the export market.
But it’s hard to know how Americans would react to rising prices. Maple syrup is considered a luxury product and customers in the U.S. have continued buying it as prices have risen, Vaudeville said.
It’s also unclear whether Trump will move forward with his tariff threats, Vaudeville said, and how much a 25 per cent tariff would increase the price consumers pay in U.S. supermarkets.
With the uncertainty, the syrup industry is looking to boost exports to other markets — like Europe, where demand for organic syrup is high and where Canadian businesses benefit from a free trade agreement, as well as Japan and Australia.
Vaudeville said the maple syrup industry, which has around 12,000 full-time employees and contributes around $1 billion to Quebec’s GDP, is also working with the government to ensure producers are supported if tariffs dry up the U.S. market.
“Of course we’re worried about the tariff threats, but we’re keeping a cool head and we’re working with our different partners and the Canadian and Quebec governments to be well prepared should Trump’s tariff threat be put into effect Feb. 1,” he said.