China To Impose Retaliatory Tariffs On Canadian Rapeseed Oil, Pork

China announced it will impose retaliatory tariffs on imports of rapeseed oil, pork, and seafood from Canada as the trade war escalates, Megan Durisin and Tian Ying reported for Bloomberg News.

Last year, Canada imposed a 100% tariff on electric cars and a 25% levy on steel and aluminum from China.

The Ministry of Finance stated that there will be a 100% tariff on rapeseed oil, rapeseed meal, and pea products, along with a 25% levy on pork and certain seafood imports. The changes will take effect on March 20.

Last year, Canada imposed a 100% tariff on electric cars and a 25% levy on steel and aluminum from China.

In response, the Chinese government launched an anti-dumping probe into Canadian rapeseed imports and lodged a complaint with the World Trade Organization (WTO) to challenge the decision.

China claims that Canada’s levies have harmed its industries, disrupted operations and investments, and “seriously violated” WTO rules. Canada is one of the world’s largest producers of rapeseed, also known as canola.

Last year, China imported 6.39 million metric tons (MMT) of rapeseed, almost all of which came from Canada. While China is expected to import about 1.75 million tons of rapeseed oil this season, it primarily brings in larger volumes of raw oilseeds, according to U.S. Department of Agriculture (USDA) forecasts.

Meanwhile, China’s pork imports have declined in recent years due to a domestic oversupply amid a weakening economy.