China Enacts Tariffs on Canadian Agricultural Products in Trade Response
China will impose a 100% tariff on Canadian rapeseed oil, oilcakes, and peas, alongside a 25% tariff on aquatic products and pork, starting March 20, as a retaliatory measure against Canada’s tariffs on Chinese imports.
On March 20, China will implement retaliatory tariffs on several Canadian agricultural and food items in response to Canada’s recent imposition of tariffs on Chinese electric vehicles, steel, and aluminum imports. The tariffs include a 100% levy on Canadian rapeseed oil, oilcakes, and peas. Additionally, there will be a 25% tariff on certain aquatic products and pork, as outlined by the Chinese commerce ministry in an official statement.
China’s recently announced tariffs on Canadian agricultural products represent a significant escalation in trade tensions following Canada’s tariffs on Chinese imports. The 100% and 25% tariffs on specific Canadian goods are likely to impact bilateral trade dynamics substantially.
Original Source: money.usnews.com
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