Canada Says China to Ease Canola Tariffs by March in Trade Thaw

Canada expects China to cut tariffs on its canola by March 1, which would be a significant thaw in a trade rift that has disrupted crop flows and tested bilateral relations.

The move was announced by Canadian Prime Minister Mark Carney during his visit to China on Friday and is part of a deal reached after months of talks to mend ties between the nations. Carney said Beijing will lower tariffs on the product to about 15%, from more than 80%, as well as suspending anti-discrimination duties on imports of some other farm products including canola meal and lobsters.