Canada-China Trade Deal: Carney Secures EV Imports, Canola Tariff Cuts

• Canadian PM Mark Carney announced a preliminary trade deal with China during his four-day visit, aiming to reset bilateral relations.
• Canada will import 49,000 electric vehicles (EVs) from China at a reduced 6.1% tariff, a significant drop from the previous 100% under the Trudeau administration.
• China will lower tariffs on Canadian canola seed to about 15% by March 1 and remove tariffs on canola meal, lobsters, crabs, and peas until year-end.
• The deal is expected to unlock nearly $3 billion in export orders for Canadian farmers and fish harvesters, with China being a $4 billion canola seed market.
• MoUs were signed on energy, green technology, construction, culture, and crime, aiming to diversify Canada's trade away from the US.

Why It Matters: Mark Carney's China visit secured a trade deal, boosting Canadian exports and diversifying trade partners.