Canada, breaking with the United States, has agreed to cut its 100% tariff on Chinese electric cars in return for lower tariffs on Canadian farm products, Prime Minister Mark Carney announced on Friday.
Carney made the announcement after two days of meetings with Chinese leaders. He said there would be an initial annual cap of 49,000 vehicles on Chinese EV exports to Canada, growing to about 70,000 over five years. China will reduce its total tariff on canola seeds, a major Canadian export, from 84% to about 15%, he told reporters.
"Canada and China have reached a preliminary but landmark trade agreement to remove trade barriers and reduce tariffs," he said after meeting with Chinese leader Xi Jinping.
Carney said China has become a more predictable partner to deal with than the U.S, the country's neighbor and longtime ally.
"Our relationship has progressed in recent months with China.
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