On Saturday, China announced it will impose additional tariffs on Canadian agricultural and food products beginning March 20. This response stems from what Beijing deems as 'discriminatory' levies imposed by Canada on Chinese electric vehicles and metal imports. Specific tariffs include a 100% levy on rapeseed oil and meals, alongside a 25% tariff on some seafood and pork. This move escalates trade tensions as Canada grapples with pressure on its economy, especially given its significant canola exports to China, valued at around C$5 billion in 2023.
Beijing's decision to impose retaliatory tariffs on Canadian agricultural and food products as a response to Canada's tariffs on Chinese EVs signifies escalating trade tensions.
China's Ministry of Finance stated that Canada’s 'discriminatory' levies on Chinese imports triggered the imposition of tariffs, highlighting international trade complexities.
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