Tariffs on canola, peas, and other goods are suspended as of March 1
Some Canadian ag products will have tariff-free access to China as of March 1.
As of Sunday, China is suspending its 100 per cent tariff on canola meal and peas, as well as the 25 per cent tariffs on lobster and crabs, until the end of the year, Reuters reported Friday citing a statement from China’s finance ministry.
“Fantastic news for Canada’s agriculture and seafood sectors,” Agriculture Minister Heath MacDonald said on X about the development.
Prime Minister Carney visited China last month, and a statement about that visit indicated this move was coming.
An outlier, though, is canola seed.
The prime minister’s statement said China would lower tariffs on canola seed to 15 per cent by March 1.
But China’s statement made no mention of canola seed. Nor did it mention canola oil or Canadian pork.
A Chinese decision on other Canadian canola goods could come by March 9, when China is expected to complete its anti-dumping probe.
In exchange for lower ag tariffs, Canada is lowering its tariffs on Chinese EVs.
Canada will allow up to 49,000 EVs into the country at a tariff rate of 6.1 per cent.