American farmers will be hit by rising fertilizer prices if U.S. President Donald Trump implements cross-border tariffs, Nutrien’s chief executive Ken Seitz said on the company’s fourth-quarter earnings call. The Saskatoon-based fertilizer company said farmers reliant on potash—nearly 80 per cent of which the U.S. imports from Canada—will bear the brunt of the pain. (The Logic)

Talking point: Nutrien has created a “cross-functional” team to cope with the tariffs if they come into play, and said its yearly sales volume guidance of 13.6 million to 14.4 million tonnes of potash takes into account the impact of potential tariffs, including any supply chain disruptions. Farmers and academics in the U.S. told The Logic last week that a rise in the cost of potash,  critical for growing the ingredients of burgers like the Big Mac, would be passed on to consumers. Nutrien on Thursday also reported a 33 per cent drop in net earnings and a 10 per cent drop in sales in the fourth quarter.