China made good on its pledge to reduce tariffs on Canadian canola seed and suspend import duties on canola meal, peas, lobster and crab until the end of the year, the federal government confirmed Wednesday. The commitments were part of the deal reached during Prime Minister Mark Carney’s January visit to Beijing. (The Logic)

Talking point: China slapped tariffs on several Canadian agricultural products last year in apparent retaliation for steep duties Ottawa imposed on Chinese-made EVs, steel and aluminum shortly after the Biden administration did the same. The goods Beijing targeted included canola seeds, which made up more than three-quarters of the $4.9 billion in Canadian canola exports to China in 2024. In January, China agreed to lighten that load in exchange for Canada drastically reducing tariffs on a limited number of Chinese-made EVs. Beijing did not mention Canadian canola seed in its own announcement of tariff reductions on Friday, but Global Affairs Canada said the levies fell from nearly 85 per cent to a combined rate of 14.9 per cent on March 1.

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