China has suspended anti-discrimination tariffs on canola meal and peas until the end of the year and reduced tariffs on canola seed, Canada’s government confirmed today.
The tariff rate for canola seed is 14.9 per cent, effective March 1, Global Affairs Canada said in a news release.
Canada and China struck an initial trade deal in January when Prime Minister Mark Carney visited Beijing. Canada agreed to reduce tariffs on Chinese electric vehicles in return for lower tariffs on goods like canola.
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“Canada’s farmers, ranchers, and processors succeed when markets are open and trade is predictable,” said Minister of Agriculture and Agri-Food Heath MacDonald in the news release.
“The suspension and reduction of tariffs on agriculture products, in addition to the restoration of market access for Canadian beef, pet food and animal genetics exports to China, deliver real opportunities for Canadian producers, businesses and workers,” he added.
As of March 1, Canada implemented a quota of 49,000 Chinese electric vehicles and extended the remission of surtaxes for certain Chinese steel and aluminum products.
The announcement makes no mention of pork or canola oil.
