"The Liberal government has reached a deal with Beijing to allow tens of thousands of Chinese electric vehicles into the domestic market in exchange for dropping duties on canola products, Prime Minister Mark Carney said Friday. It marks the prime minister's first deal on trade with another country since taking office last year and a de-escalation in tensions with a country the Liberal government had, in recent years, branded a disruptive power."
"Carney said Ottawa expects Beijing to drop canola seed duties to 15 per cent by March, and called that "enormous progress." Saskatchewan Premier Scott Moe said in a social media post that the break on canola tariffs "demonstrates the importance of foreign trade missions and shows what can be achieved when the federal and provincial governments and our export industries work together to strengthen our trade relationships.""
The Liberal government reached a trade agreement with Beijing that exchanges reduced canola duties for renewed market access for Chinese electric vehicles. China will drop canola seed duties to 15 per cent by March, and Canadian canola meal, lobsters, crabs and peas will be exempt from Chinese "anti-discrimination" tariffs from March through at least the end of the year. Canada will allow up to 49,000 Chinese EVs annually at a 6.1 per cent tariff, reversing a 100 per cent tariff imposed in 2024. The deal is described as a preliminary strategic partnership and marks the prime minister's first trade agreement since taking office.
Read at www.cbc.ca
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