Canada and China recently established an ‘Economic and Trade Cooperation Roadmap’, signaling a shift in economic strategy toward greater engagement with one another. The headline of the new deal was transparent and aimed at easing trade barriers between the two nations. By March 1st, Canada will reduce the 100% tariff rate on Chinese EVs to a Most-Favoured-Nation (MFN) rate of 6.1% while implementing an annual import quota of 49,000 vehicles (rising to 70k by 2030). In return, China will lower tariffs on Canadian agricultural exports, including canola seed – cut from around 84% to 15% – and will remove or reduce ... (full story)