Foreign media reports China restarts import of Canadian canola
According to sources, shortly after Canadian Prime Minister Justin Trudeau's visit to China last week, a Chinese importer has purchased a shipload of Canadian canola. Two trade sources who are directly aware of the transaction told Reuters on the 19th that this shipment of about 60,000 tons of canola is the first purchase since China suspended imports last October, and it is expected to be shipped after March.
Canadian Prime Minister Justin Trudeau said on the 16th that Canada expects China to reduce the comprehensive tariff on Canadian canola to about 15% before March 1st, which is part of the initial trade agreement, and the agreement also includes Canada lowering tariffs on Chinese electric vehicles. The Chinese Ministry of Commerce said later that day that China will adjust the anti-dumping measures on Canadian canola and the anti-discrimination measures on some Canadian agricultural and water products, according to relevant laws and regulations.
"After the Canadian Prime Minister's visit to China, it is almost certain that the tariff on Canadian canola will be reduced. It is reasonable to buy now," said a canola trader from an international grain and oil trading company.
Reuters said that over the past few months, Australian canola has filled the market gap left by Canada, and now Canadian canola is returning, and China's canola import structure is facing adjustment.
According to the report, Canada will grant China an annual quota of 49,000 electric vehicles, with preferential most-favored-nation tariff of 6.1% within the quota, and the quota amount will increase by a certain proportion each year.
Original article: toutiao.com/article/1854824582929472/
Statement: This article represents the views of the author themselves.