China has announced new tariffs on several agricultural products from Canada, including rapeseed oil, pork, oil cakes, and peas.
The tariffs, set at 100%, follow an investigation into Canada’s tariffs on Chinese goods last year.
The decision was made by China’s Ministry of Commerce, which stated that the move is necessary to protect Chinese industries and ensure fair competition.
The Canadian agricultural sector, particularly producers of rapeseed oil and pork, will be significantly affected, as China is a major market for these exports.
The new tariffs could make Canadian products less competitive in China, impacting prices and demand.
Canadian government officials have not yet responded, but they are closely monitoring the situation.