China Tariffs on Canadian Agricultural and Food Products
China announced on Saturday that it would impose tariffs on several Canadian agricultural and food products in retaliation for Canada’s recent import levies on Chinese electric vehicles, steel, and aluminum. Starting March 20, Canadian rapeseed oil, oilcakes, and peas will face a 100% tariff, while aquatic products and pork will be hit with a 25% tariff. This move intensifies the trade tensions between the two nations, particularly affecting Canada’s agricultural export sector.
China Imposes Tariffs on Canadian Agricultural and Food Products
- Tariffs Announcement: On Saturday, China revealed plans to impose tariffs on select Canadian agricultural and food products.
- Reason for Tariffs: The move comes in response to Canada’s recent imposition of import levies on Chinese electric vehicles, steel, and aluminum.
- Affected Products:
- 100% Tariff: Canadian rapeseed oil, oilcakes, and peas will be hit with a 100% tariff, starting March 20.
- 25% Tariff: Additional tariffs of 25% will be applied to Canadian aquatic products and pork.
- Impact: The new tariffs are expected to impact Canadian businesses significantly, especially those involved in agriculture and food exports.
- Ongoing Trade Tensions: This announcement marks another chapter in the growing trade conflict between Canada and China.
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