Canadian cattle and hog producers have economic studies indicating COOL reduces their prices by between $1.5 and $2 billion a year.
Agriculture Minister Gerry Ritz and Trade Minister Ed Fast have scheduled a news conference in Ottawa Tuesday to comment.
It’s likely that they will pressure the U.S. to either drop or radically reform its COOL regulations and that they will threaten to hit U.S. products with tariffs if the U.S. persists with its current COOL regulations.
Canada would need WTO approval for any tariffs it intends to impose.
The Canadian Cattlemen’s Association, the Canadian Pork Producers Council and the Canadian Meat Council all expressed pleasure with the decision.
It has cost the cattle and hog producers a small fortune to hire lawyers and consultants to lobby in the U.S. and to challenge the COOL regulations.