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China said that it would impose retaliation on the imports of wrapped oil, pork and seafood from Canada as the trade war increases.
The Finance Ministry said in a statement on Saturday that there would be 100% tariff on rapeseed oil, rape and pea products and 25% levy on pork and some seafood imports. Changes will be effective from March 20.
Canada imposed 100% levy on electric cars last year and 25% on steel and aluminum from China. This inspired the Chinese government to start an anti-dumping investigation into rapeseed imports from Canada and complain with the World Trade Organization to challenge the decision.
The government said the Levi hurts the operations and investments of the sugar industry, and “seriously violated” the WTO rules.
Canada is one of the world’s largest producers of rapeseed, a crop also known as canola. Rapeseed shipments for China were 6.39 million tonnes last year, almost all from Canada.
China is expected to import about 1.75 million tonnes of rapeseed oil this season, but it brings raw oilseeds to large versions of the USDA forecast shows. China’s pork imports have decreased in recent years as it struggles with domestic oversupply among a weak economy.
Canada called Tariff “unfair” in a release jointly signed by its three ministers, saying that it “does not accept the basis of China’s investigation, nor its conclusions.”
“As a business partner, Canada has demonstrated a commitment to ensure a level sports ground for Canadian businesses and support for fair, rule-based business,” the release has said. “This involves addressing China’s non-market policies and practices that artificially reduce production costs and deformed markets.”
US President Donald Trump imported this week to promote his danger to a hit to Canada and Mexico and doubled an existing charge on China. New American tariffs – 25% of duties on most Canadians and Mexican imports and increasing charge on China by 20% – applies to about $ 1.5 trillion in annual imports.
China is highly vulnerable to the risk of global trade war. Although the US directly absorbs about 15% of Chinese exports, more goods are sent through Vietnam, Mexico and other countries.
Mexican President Claudia Shinbam said on Thursday that his country would review the tariff on Chinese shipment. Canadian Finance Minister Dominic Labbank said in an interview with Bloomberg that Canada is ready to work with the White House to prevent China from “dumping in the North American market” and to pursue measures.
With help from Megan Duricin and Tian Ying.
This article was generated from an automated news agency feed without amending the text.
