Commodities
China Rattles Crop Markets With Levies on Canadian Farm Exports
- Beijing announces 100% levies on Canadian rapeseed oil, meal
- Ottawa also faces sweeping duties from Trump administration
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China’s weekend move to impose tariffs on Canadian rapeseed products has sent prices for the crop plunging, adding more uncertainty to global food flows that are being buffeted by a series of trade wars.
The move is a response to Canadian tariffs on Chinese-made electric vehicles, steel and aluminum imposed last year and comes as both countries are grappling with sweeping levies from US President Donald Trump’s administration. It also leaves Mark Carney juggling trade wars on two major fronts as he prepares to take over as Canada’s prime minister.