China imposes Tariffs

China Imposes Tariffs on Canadian Agricultural and Food Products in Retaliation

China has announced new tariffs on Canadian agricultural and food products, responding to levies introduced by Ottawa in October on Chinese electric vehicles, steel, and aluminum products.

The Chinese Ministry of Commerce confirmed the tariffs, set to take effect on March 20, escalating trade tensions between the two nations. The move adds another layer to a broader trade conflict, which intensified following the United States’ imposition of tariffs on Canada, Mexico, and China.

Under the new measures, Canadian rapeseed oil, oil cakes, and pea imports will face a 100% tariff, while aquatic products and pork will be subject to a 25% duty.

China’s Commerce Ministry condemned Canada’s earlier tariffs, stating that the 100% levy on Chinese electric vehicles and 25% tariff on aluminum and steel products violate World Trade Organization (WTO) rules. The ministry labeled the measures as discriminatory and protectionist, arguing that they harm China’s legitimate trade interests.

Canadian Prime Minister Justin Trudeau previously defended the tariffs, stating that they were meant to counter China’s state-driven industrial overcapacity, aligning with similar moves by the United States and the European Union.

China remains Canada’s second-largest trading partner, significantly behind the United States, but these new tariffs could further strain economic ties between both nations.

Oh hi there 👋
It’s nice to meet you.

Sign up to receive awesome content in your inbox, every week.

We don’t spam!

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *