China has announced retaliatory tariffs on Canadian agricultural products on Saturday.
In October 2024, the Canadian government had imposed a 100% tariff on Chinese EVs and a 25% levy on steel and aluminum products, citing concerns over China’s state-directed policy of overcapacity.
This new move by the Chinese government is in response to levies Canadian government introduced in October on Chinese-made electric vehicles (EVs), steel, and aluminum products.
The Chinese Ministry of Commerce stated that the tariffs would include a 100% duty on Canadian rapeseed oil, oil cakes, and peas, alongside a 25% tariff on pork and aquatic products.
This development adds a new dimension to the ongoing trade tensions, which have been influenced by similar actions from other nations, including the United States.
China, Canada’s second-largest trading partner after the United States, has criticized these measures as violations of World Trade Organization rules and acts of protectionism that harm China’s legitimate rights and interests.
The escalating trade dispute underscores the complexities of global trade relations, with both nations experiencing economic uncertainties amid these tit-for-tat measures.
