China is ramping up its trade response after Canada recently slapped hefty tariffs on a range of Chinese imports, including electric vehicles (EVs), steel, and aluminum products. 🚗🛢️
Last week, Canada announced a 100% tariff on imports of Chinese-made EVs, joining the United States and the European Union in this move. Additionally, the country has imposed a 25% duty on Chinese steel and aluminum products.
In retaliation, China's Ministry of Commerce has declared it will launch an anti-discrimination investigation into Canada's tariff policies affecting Chinese goods. The country isn't stopping there—it will also initiate anti-dumping investigations into Canadian rapeseed and related chemical products. 🌏⚖️
\"Despite opposition and dissuasion from various parties, Canada has imposed discriminatory unilateral restrictions on imports from China. China is strongly dissatisfied and firmly opposed to this and plans to bring Canada's actions to the WTO dispute resolution mechanism,\" a spokesperson for China's Commerce Ministry stated. They also mentioned that additional measures may be taken based on the evolving situation.
Recent reports highlight a significant surge in Canada's rapeseed exports to China, skyrocketing by 170% in 2023 to reach $3.47 billion, with prices dropping steadily—raising concerns of suspected dumping. 📉📈
\"Affected by Canada's unfair competition, related domestic industries in China have been suffering continuous losses. China will, in accordance with domestic laws and regulations and in line with WTO rules, initiate an anti-dumping investigation into rapeseed imports from Canada,\" the spokesperson added.
This escalation marks a significant chapter in the ongoing trade tensions between China and Canada, with both nations poised to take their disputes to international platforms to seek resolution.
