BEJING: On Saturday, China revealed it would impose tariffs on Canadian agricultural and food products valued at over $2.6 billion. This move serves as retaliation against tariffs that Canada imposed in October, marking a new chapter in a trade conflict largely influenced by U.S. President Donald Trump’s previous tariff threats.
By excluding canola, also referred to as rapeseed, from the list of tariffs, Beijing may be signaling a willingness to engage in trade discussions, particularly since canola was one of Canada’s leading exports to the world’s largest agricultural importer before China began investigating it for anti-dumping measures last year. However, analysts interpret the imposition of tariffs as a clear warning.
Trump administration has indicated the potential for reducing the 25% import duties currently proposed against Canada and Mexico, contingent upon their response to the additional 20% tariffs he has mandated on Chinese goods, which are primarily linked to fentanyl trade issues.
