China extends suspension of extra tariffs on Canadian canola meal, peas, lobster and crab to end-2028
On November 4 the Canadian government said it had agreed with China to extend, for two years to the end of 2028, favourable market access for Canadian canola meal, peas, lobsters and crabs. The deal was reached at the Canada–China Joint Economic and Trade Commission in Beijing, the first time it has met at ministerial level.
Key points
- China extends suspension of extra tariffs on the four products to the end of 2028
- From March 1 China had suspended them through the end of this year and cut its tariff on Canadian canola seed to 14.9%
- Canada likewise extends relief from extra tariffs on certain Chinese steel and aluminium products not produced domestically
Background
The extension follows the interim joint arrangement announced when Prime Minister Carney visited China in January. Canada says it gives farmers, fishers and exporters more predictability in the Chinese market, and it aims to raise exports to China by 50% by 2030.
What it means for shops
Canadian lobster and crab exporters now have stable tariff conditions in China for longer. For Japanese firms exporting or considering exporting seafood and farm goods to China, it means conditions for a potential competitor have been locked in.
What shops should do
- Check how competitors’ tariff conditions have changed for products you export to China
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Summaries are written by Seiichi Studio based on the original releases. Always check the source for the exact details.