Canada recently imposed steep tariffs on products made in China, targeting electric vehicles with a 100% duty and metals like steel and aluminum with a 25% duty. This move has sparked heated discussion among global trade watchers 🌍.
China expressed strong dissatisfaction with the decision, arguing that the tariffs breach World Trade Organization (WTO) rules, are discriminatory, and harm its legitimate interests along with the healthy development of bilateral trade relations.
In response, China announced countermeasures that will take effect on March 20, 2025. These measures include a 100% tariff on Canadian rapeseed oil, oil cakes, and pea imports, as well as a 25% duty on Canadian aquatic products and pork. Experts note that fostering a win-win approach is crucial for sustainable global trade.
This trade standoff highlights complex international trade policies and has investors, young businesspeople, and professionals keeping a close eye on evolving market dynamics. Ultimately, dialogue and cooperation could pave the way for a more balanced and mutually beneficial trade environment 🤝.
Reference(s):
Canada tariffs on China breach WTO rules. Win-win is the right path
cgtn.com
