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(Bloomberg) — Canada expects China to cut tariffs on Canadian rapeseed by March 1, marking a significant thaw in a trade rift that has disrupted crop flows and tested bilateral relations
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The move was announced by Canadian Prime Minister Mark Carney during his visit to China this week and is part of a deal reached after months of talks to mend ties between the nations. He said that the Asian nation will lower tariffs on the products to 15%, as well as suspending duties on imports of other farm products including canola meal and lobsters.
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In tandem, Canada will allow 49,000 Chinese electric vehicles into its market at a tariff rate of about 6%, down from the current rate of 100%.
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The discussion follows a prolonged period of tensions after Canada imposed tariffs on Chinese EVs, steel and aluminum in 2024, prompting Beijing to slap 100% duties on Canadian rapeseed oil and meal early last year. Beijing subsequently started an anti-dumping probe into Canadian rapeseed, known locally as canola, and slapped initial duties of nearly 76% on the oilseed. The final decision on levies following the investigation has been extended until March 9.
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Those duties have effectively closed the China market to Canadian canola and its products, freezing a trade valued at C$4.9 billion ($3.5 billion) in 2024. The latest measures to suspend the tariffs could pave the way to reopen the market, providing relief to Canadian growers and exporters who have been under pressure due to ample supplies and limited alternative destinations.
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Carney has been seeking to rebuild relations with Beijing and reduce Canada’s reliance on the US after President Donald Trump imposed sweeping tariffs. The Canadian PM has said he sees opportunities to boost agriculture and energy trade with China, although it remains unclear whether Ottawa is prepared to ease EV tariffs, one of Beijing’s key demands, a sensitive issue for Canada’s auto and steel sectors.
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