In a significant escalation of the ongoing trade war, China's Ministry of Commerce announced on Saturday new tariffs targeting Canadian agricultural and food products. These measures, set to take effect on March 20, include a 100% tariff on rapeseed oil, oil cakes, and pea imports, and a 25% duty on aquatic products and pork.
China views Canada's imposition of a 100% tariff on Chinese electric vehicles (EVs) and a 25% levy on aluminum and steel products as discriminatory acts that disrupt normal trade and harm the legitimate interests of Chinese enterprises. These Canadian tariffs were initially a response to the U.S. administration's protectionist policies, particularly those championed by former President Donald Trump, who aggressively promoted tariffs against various trading partners.
Since President Trump took office, his administration has unleashed a series of tariffs and threats aimed at pressuring other countries to meet U.S. demands, unsettling global markets and prompting swift retaliatory measures. Canada, following the U.S. lead, implemented its own tariffs on Chinese products, making it a focal point in the trade tensions.
At a press conference on Friday, Chinese Foreign Minister Wang Yi challenged the United States to assess the benefits gained from its trade wars, questioning whether U.S. manufacturing competitiveness has improved. Wang emphasized that China-U.S. economic and trade relations are mutually beneficial and that cooperation leads to win-win outcomes. However, he warned that China would not hesitate to implement firm countermeasures if the U.S. continued its pressure.
The announcement of China’s retaliatory tariffs also comes at a time when Canada is deeply entrenched in a trade conflict with the United States. Canadian daily The Globe and Mail has criticized Ottawa's stance, urging the government to stand firm against what it describes as President Trump's erratic tariff tactics designed to sow instability and project power.
As the trade war intensifies, the ripple effects on global markets and international relations continue to unfold, highlighting the complexities of modern economic diplomacy.
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China announces retaliatory tariffs on Canada amid broader trade war
cgtn.com
