Chine Importations

China announced on Saturday that it will impose a 100% tariff on imports of certain Canadian agricultural products, including rapeseed oil, oil cakes, and peas, along with a 25% levy on aquatic products and pork. These levies, set to take effect on March 20, were introduced by China's Customs Tariff Commission of the State Council in response to Ottawa's trade measures. Canada had previously imposed a 100% tariff on Chinese-made electric vehicles starting October 1 last year, aligning with similar actions by the US. and the European Union over concerns of unfair competition. Additionally, Canada implemented a 25% tariff on Chinese steel and aluminum imports, effective since October 15. In an online statement, Beijing said: "Canada’s unilateral imposition of tariffs... seriously infringes on China’s legitimate rights and interests, and undermines China-Canada economic and trade relations."