China takes tough action against Canada, imposing 100% tax on canola oil

On March 8, China announced its latest trade retaliation against Canada, imposing additional tariffs on a range of imported goods, including canola oil, pork and seafood.

The move comes after Beijing launched an investigation into tariffs Canada will impose on Chinese goods in 2024. (Source: Japan Times)

The new tariffs, which took effect on March 20, include a 100 percent import tax on rapeseed oil, oilseed meal and peas, and a 25 percent tax on aquatic products and pork, according to China's Ministry of Finance .

China's Ministry of Finance asserted that Canada seriously violated World Trade Organization (WTO) regulations through protectionism and discriminatory measures that harmed Beijing's interests.

In August 2024, Canada imposed a 100% export tariff on electric vehicles made in China and a 25% tariff on steel and aluminum imported from China. Then, in September 2024, Beijing launched an anti-discrimination investigation into Canada.

Canada is the world’s top canola producer and China has been one of Ottawa’s biggest buyers. The new tariffs come as both countries are embroiled in a growing trade conflict with the United States.

Source: https://baoquocte.vn/trung-quoc-manh-tay-voi-canada-ap-thue-100-len-dau-hat-cai-306870.html