Canada reaches tariff deal with China on canola, electric vehiclesVideo: Canada reaches tariff deal with China on canola, electric vehicles
Canada has reached a deal with China to increase the limit of imports of Chinese electric vehicles (EVs) in exchange for Beijing dropping tariffs on agricultural products, such as canola, Prime Minister Mark Carney said on Friday.
The tariffs on canola are dropping to 15 per cent starting on March 1. In exchange for dropping duties on agricultural products, Carney is allowing 49,000 Chinese EVs to be exported to Canada.
Carney described it as a “preliminary but landmark” agreement to remove trade barriers and reduce tariffs, part of a broader strategic partnership with China.