China temporarily lifts some tariffs on Canadian agricultural products

China has announced a temporary suspension of certain tariffs on Canadian agricultural products.

The decision was made as part of resolving the trade dispute between Beijing and Ottawa following talks between Canadian Prime Minister Mark Carney and Chinese authorities in January, Caliber.Az reports via foreign media.

China’s finance ministry stated in a statement that the country will lift 100% tariffs on Canadian canola meal and peas and suspend 25% tariffs on lobster and crab from March 1 through the end of 2026.

The outcome generally matches Carney's expectations, though China’s announcement did not address canola seed tariffs, which Carney had indicated would be reduced by March 1.

Ottawa had anticipated Beijing would cut tariffs on canola seeds to roughly 15% from the current 84%. China’s commerce ministry noted that its investigation into Canadian canola will conclude on March 9.

The statement also did not mention canola oil or pork. However, Beijing could still introduce further changes before the March 1 deadline Carney referenced. In 2024, China was Canada’s second-largest market for canola.

The tariff suspensions come as Western leaders visit Beijing amid tensions caused by U.S. President Donald Trump’s trade policies, with China aiming to present itself as a more stable and dependable economic partner.

By Jeyhun Aghazada