Prime Minister Mark Carney says he has reached a deal with China to allow tens of thousands of Chinese electric vehicles into the country in exchange for lower canola duties.
Carney expects Beijing to drop canola seed duties to 15 per cent by March
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After years of strained relations, Canadian Prime Minister Mark Carney has met Chinese President Xi Jinping in Beijing. Carney hailed a tentative agreement with China to co-operate more on clean and conventional energy, but the Canada-China tariff dispute remains unresolved.
Prime Minister Mark Carney says he has reached a deal with China to allow tens of thousands of Chinese electric vehicles into the country in exchange for lower canola duties.
He billed his first such trade deal since taking office as a preliminary one that would boost the economy.
Carney says Ottawa expects Beijing to drop canola seed duties to 15 per cent by March.
Canadian canola meal, lobsters, crabs and peas will no longer be subject to Chinese tariffs from March to at least the end of the year.
In return, Canada will allow up to 49,000 Chinese electric vehicles into the Canadian market at a 6.1 per cent tariff rate.
The pact comes just hours after Carney met with President Xi Jinping on a trip to Beijing, ending a multi-year trade dispute that began when the last Liberal government levied EV tariffs to protect Canada’s auto sector.
