China has announced retaliatory tariffs on certain Canadian agricultural products in response to Canada’s import duties on Chinese electric vehicles, steel, and aluminum products.
What Happened: China announced on Saturday that it would implement a 100% tariff on Canadian rapeseed oil, oil cakes, and peas. Additionally, a 25% tariff will be applied to aquatic products and pork from Canada. According to a statement from China’s Customs Tariff Commission of the State Council, these tariffs are set to take effect on March 20.
The announcement comes amid a swiftly intensifying global trade war, marked by multiple tariff declarations from the U.S., China, Canada, and Mexico in recent months. Canada had previously implemented a 100% import tariff on Chinese-made EVs starting Oct 1. 2024, mirroring similar measures taken by the U.S. and the EU amid concerns about unfair competition. Ottawa also imposed a 25% tariff on imported …
