China is turning up the heat in global trade relations . Starting March 20, Canadian rapeseed oil, peas, and pork will face new tariffs of up to 100%, according to an official announcement Saturday. The move could shake up international markets and dinner tables alike
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Here’s the breakdown:
- 100% tariffs: Rapeseed oil, oil cakes, peas (
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- 25% tariffs: Aquatic products, pork (
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Why now? Analysts suggest this could be retaliation amid ongoing trade tensions, though neither side has cited specific triggers. Canada is China’s 14th-largest trade partner, with $36 billion in bilateral trade last year. Could this spark a wider economic clash?
For young entrepreneurs and investors : Watch for shifts in global agribusiness supply chains. Students of geopolitics, take notes – this is textbook economic diplomacy (with a side of drama).
The Customs Tariff Commission called the measures "necessary to safeguard China’s interests," but didn’t elaborate. Meanwhile, Canadian exporters are bracing for impact. Will Ottawa respond? Stay tuned.
Reference(s):
cgtn.com