Business

China To Impose New Tariffs On Canadian Farm And Food Items

                                                                                  China to slap fresh tariffs on Canadian farm and food products

On Saturday, March 8, China announced it would impose tariffs on several Canadian imports, including rapeseed oil and pork, following an investigation into the tariffs Canada placed on Chinese goods last year. According to China’s Ministry of Commerce, Canada’s rapeseed oil, oil cakes, and peas will face a 100% tariff, while aquatic products and pork will be subject to a 25% levy. These new measures are set to take effect on March 20.

This move follows Canada’s decision in August 2024 to place 100% tariffs on Chinese electric vehicle imports, aligning with U.S. measures aimed at limiting the influx of state-subsidized Chinese cars into North America. Canada also introduced a surtax on Chinese steel and aluminum products.

China’s Ministry of Commerce stated that its investigation revealed Canada’s policies disrupted normal trade and infringed upon the rights of Chinese businesses. A spokesperson urged Canada to immediately reverse its actions, lift restrictive measures, and mitigate their negative effects.

Canada, a major producer of canola, which is used to make cooking oil, animal feed, and biodiesel, had China as one of its largest buyers. However, trade relations between the two nations have soured in recent years. The tensions escalated in 2018 when Canada detained Meng Wanzhou, a senior Huawei executive, which led to China’s retaliatory arrests of two Canadian citizens.

These new tariffs come at a time of rising global trade tensions, with both Canada and China facing pressure from the U.S., which has introduced new trade restrictions targeting several countries.

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