China Imposes Tariffs on $2.6 Billion of Canadian Goods Following Trade Dispute
China has announced retaliatory tariffs on $2.6 billion worth of Canadian goods, following Canada’s duties on Chinese products. Effective March 20, these tariffs include a 100% tax on Canadian rapeseed oil and a 25% tax on pork and aquatic products, worsening trade tensions amid allegations of WTO violations.
In response to Canada’s implementation of duties on certain Chinese goods in October 2024, China has announced retaliatory tariffs on Canadian products valued at $2.6 billion. The Chinese Ministry of Commerce is set to enforce these tariffs beginning March 20, which will include a 100% tariff on rapeseed oil, oil cakes, and peas imported from Canada. Additionally, a 25% tariff will be applied to Canadian aquatic products and pork.
This development intensifies the ongoing trade tensions between China and Canada. The Chinese authorities have accused Canada of violating World Trade Organization (WTO) regulations, asserting that the trade measures taken against their products are unjustified and excessive. As a result, the relationship between the two nations is experiencing heightened strain due to these retaliatory actions.
The recent introduction of tariffs by China on various Canadian agricultural products marks a significant escalation in trade conflicts between the two countries. As China responds to Canada’s earlier tariffs, the implications for both economies and their trade relationships could be profound, highlighting the complexity of international trade dynamics.
Original Source: m.farms.com
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