TORONTO, March 4 (Reuters) - Canadian miner Teck
is looking to sell zinc to Asia instead of the U.S.
to contend with new tariffs imposed by U.S. President Donald
Trump's administration on Canadian imports, CEO Jonathan Price
said at the PDAC mining industry conference in Toronto on
Tuesday.
The company typically sells zinc to the U.S. and has been
developing a contingency plan for months, Price noted.
"We have been reserving warehousing capacity, looking to
reserve space in ports to export the metals to Asia," Price
said. "We will find buyers and prices will adjust."
He did not specify how much zinc Teck exports to the U.S.
Price added that he expects the tariffs to raise the cost of
commodities and drive inflation, noting "there is little
upside."
Trump's 25% tariffs on imports from Canada as well as Mexico
took effect on Tuesday, launching new trade conflicts with the
top three U.S. trading partners. Economists expect U.S.
companies to bear the cost of those tariffs.