China announced new tariffs on Canadian agricultural and food products on Saturday, retaliating against levies imposed by Ottawa in October on Chinese-made electric vehicles, as well as steel and aluminum products.
The tariffs, set to take effect on March 20, introduce another flashpoint in a trade dispute that has escalated following U.S. President Donald Trump’s broad tariff measures against Canada, Mexico, and China, alongside warnings of further protectionist actions.
According to a statement from China’s Ministry of Commerce, Beijing will impose a 100% tariff on Canadian rapeseed oil, oil cakes, and pea imports, along with a 25% duty on Canadian aquatic products and pork.
China’s ministry criticized Canada’s 100% tariff on Chinese EVs and its 25% levy on Chinese steel and aluminum, calling them “a serious violation of World Trade Organization rules, a textbook example of protectionism, and discriminatory measures that severely harm China’s legitimate rights and interests.”
Canadian Prime Minister Justin Trudeau defended Ottawa’s decision, stating in August that the tariffs were aimed at countering what he described as China’s deliberate, state-directed policy of overproduction. The move aligns Canada with similar measures taken by the United States and the European Union, both of which have imposed import levies on Chinese-made EVs.
Despite these tensions, China remains Canada’s second-largest trading partner, though it lags far behind the United States in overall trade volume.
FEATURED NEWS
The Trump administration is starting to put millions of defaulted student-loan borrowers into c...
5/5/2025 Credit Suisse has agreed to pay $511 million in fines for helping US taxpayers hide over $4 bil...
5/5/2025 Apollo now puts probability of a tariff driven recession now at 90%
5/5/2025 Plane tickets are getting cheaper as domestic travel demand weakens
5/5/2025
Stay Updated
Subscribe to our newsletter for the latest financial insights and news.
