Canada and China Agree on Trade Deal Reducing Tariffs on EVs and Canola

Canada has reached a significant trade agreement with China, reducing its 100% tariff on Chinese electric vehicles to about 6.1%, allowing up to 49,000 EVs annually, while China will lower tariffs on Canadian canola seeds from around 84% to 15%. This deal marks a strategic shift as Canada seeks to diversify trade partnerships amid uncertainty caused by U.S. tariffs under President Trump. The agreement also includes visa-free travel for Canadians and aims to strengthen bilateral ties despite concerns from U.S. officials about market impacts.