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Canada Has No Plans for China Trade Deal, Carney Says
(MENAFN) Canada has "no intention" of pursuing a free trade agreement with China, Prime Minister Mark Carney declared Sunday, responding to US President Donald Trump's warning of imposing a 100% tariff on Canadian exports.
Carney stressed that Ottawa maintains unwavering commitment to its responsibilities under the Canada-US-Mexico Agreement (CUSMA) and will not advance trade negotiations without proper consultation.
In a Truth Social statement Saturday, Trump accused Carney of plotting to transform Canada into a "drop off port" for Chinese goods, stating: "He is sorely mistaken."
Friction intensified after Trump withdrew Ottawa's invitation to his "Board of Peace," referencing Carney's remarks at the World Economic Forum, where he cautioned against economic intimidation by dominant nations.
Despite Trump's previous endorsement of Canada's diplomatic engagement with China, his administration now perceives Ottawa's "preliminary agreement" with Beijing as jeopardizing US trade security.
The arrangement, finalized January 16, permits 49,000 Chinese electric vehicles annual entry into Canada at a 6.1% tariff rate.
Reciprocally, Beijing will reduce tariffs on Canadian agricultural products, including canola seed oil, decreasing from 85% to 15% beginning March 1.
Additional commodities—Canadian canola meal, lobsters, crabs, and peas—will receive exemptions from Chinese anti-discrimination tariffs through at least 2026's conclusion.
"This deal rectifies some issues that have developed in the last couple of years," Carney said. "It is entirely consistent with CUSMA."
Carney stressed that Ottawa maintains unwavering commitment to its responsibilities under the Canada-US-Mexico Agreement (CUSMA) and will not advance trade negotiations without proper consultation.
In a Truth Social statement Saturday, Trump accused Carney of plotting to transform Canada into a "drop off port" for Chinese goods, stating: "He is sorely mistaken."
Friction intensified after Trump withdrew Ottawa's invitation to his "Board of Peace," referencing Carney's remarks at the World Economic Forum, where he cautioned against economic intimidation by dominant nations.
Despite Trump's previous endorsement of Canada's diplomatic engagement with China, his administration now perceives Ottawa's "preliminary agreement" with Beijing as jeopardizing US trade security.
The arrangement, finalized January 16, permits 49,000 Chinese electric vehicles annual entry into Canada at a 6.1% tariff rate.
Reciprocally, Beijing will reduce tariffs on Canadian agricultural products, including canola seed oil, decreasing from 85% to 15% beginning March 1.
Additional commodities—Canadian canola meal, lobsters, crabs, and peas—will receive exemptions from Chinese anti-discrimination tariffs through at least 2026's conclusion.
"This deal rectifies some issues that have developed in the last couple of years," Carney said. "It is entirely consistent with CUSMA."
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