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EDA Invests $3.2 Million to Boost Grand Forks Agricultural Processing

The U.S. Economic Development Administration (EDA) announced a $3.2 million grant to Grand Forks to accommodate the expansion of a soybean processing facility and allow for new industrial development in the area. This award will be matched with $798,342 in local funds.

“North Dakota is an agriculture powerhouse, and our commodities rely on infrastructure networks to get our products to market,” said U.S. Senator Kevin Cramer (R-ND). “This project adds value to the Grand Forks community, helping to improve the movement and processing of soybeans in the region, while boosting economic growth.”

Source : senate.gov

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Canada reaches tariff deal with China on canola, electric vehicles

Video: 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.