CN Rail AND Canada-UK dairy and beef trade

CN Rail signed a deal to purchase Iowa Northern Railway. The Iowa Northern operates 275 miles of track that connects to CN's U.S. rail network. David Przednowek, the Assistant Vice President of Grain for CN Rail, says they are very excited about the transaction as Iowa Northern is a great rail property with a very heavy agricultural focus.The United Kingdom announced the suspension of talks after Canada decided not to extend two temporary trade measures – a special quota on U.K. cheese exports, which expired in December 2023, and country-of-origin rules on products being exported, which is set to expire at the end of March.Those measures were in place since Britain left the European Union. Canadian Cattle Association President Nathan Phinney said the other major issue revolves around Canadian beef.The U.K. doesn’t allow hormone-treated beef and pork imports from Canada but is able to export approximately 40,000 tons of beef to Canada annually. Phinney says he wasn't surprised by the UK's move and discusses Canada's next step.See omnystudio.com/listener for privacy information.