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China Imposes Tariffs on Canadian Agricultural Goods Amid Ongoing Trade Tensions

by Daisy

China announced on Saturday that it will impose tariffs on several Canadian agricultural products in retaliation for Canada’s levies introduced in October, marking the latest escalation in a trade conflict primarily driven by US President Donald Trump’s tariff threats, according to Reuters.

The new tariffs, set to take effect on March 20, include a 100% tariff on Canadian rapeseed oil, oil cakes, and peas, as well as a 25% levy on aquatic products and pork from Canada. The move was confirmed by China’s commerce ministry.

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In response to the announcement, the AUD/CAD cross dipped 0.10%, trading at 0.9058 at the time of writing, reflecting market concerns about the further intensification of trade tensions between the two nations.

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