China declares retaliatory tariffs on Canada amidst wider trade conflict
China has announced retaliatory tariffs on Canada as part of an escalating trade conflict. This move comes amid a wider strain in international trade relations, sparking concerns about the implications for both countries and the global economy. The tariffs are expected to affect various sectors, reflecting the tensions that have arisen in recent trade negotiations.
TroibNews 
On Saturday, China's Ministry of Commerce announced new tariffs on Canadian agricultural and food products, characterizing the measures as a response to tariffs imposed by Ottawa on Chinese goods. This development reflects the protectionist policies associated with the Trump administration.
The countermeasures, set to take effect on March 20, include a 100 percent tariff on imports of Canadian rapeseed oil, oil cakes, and peas, along with a 25 percent duty on Canadian aquatic products and pork, as detailed in a ministry statement.
The ministry argued that Canada's 100 percent tariff on Chinese electric vehicles (EVs) and the 25 percent levy on aluminum and steel products represent discriminatory actions that disrupt normal trade and infringe upon the legitimate rights and interests of Chinese businesses.
Originally tied to a U.S.-led initiative addressing the alleged overcapacity of Chinese EVs, these tariffs now highlight a broader trade conflict initiated by the Trump administration.
Since taking office, U.S. President Donald Trump has aggressively pursued protectionist strategies, implementing multiple tariffs and issuing threats against various trading partners. These actions aim to compel countries to align with U.S. demands but have destabilized global markets and prompted swift retaliatory responses, potentially leading to wider economic consequences.
Canada, having followed the U.S. lead in imposing tariffs on Chinese products, now finds itself targeted by Trump's tariff policies.
China perceives the tariffs from both the U.S. and Canada as unilateral measures that breach World Trade Organization regulations.
During a press conference on Friday, Chinese Foreign Minister Wang Yi called for the U.S. to reassess the outcomes of its trade wars and question whether the U.S. manufacturing sector has benefitted from such policies.
Wang emphasized that the economic and trade relationship between China and the U.S. is mutually advantageous and that collaboration leads to shared benefits. However, he warned that if the U.S. persisted in applying pressure, China would respond resolutely.
In the context of trade tensions, The Globe and Mail, a Canadian newspaper, has urged Ottawa to stand firm against Trump’s unpredictable tariff policies. The publication asserted that Trump's recent 25 percent tariffs on imports are not merely negotiating tactics but a calculated effort to create instability and exert power.
On Tuesday, the Trump administration escalated its trade measures by imposing tariffs on most imports from Canada and Mexico, though some tariffs were later suspended following pushback from U.S. industries. The exemptions, including those for auto and energy products, are set to expire on April 2, when Trump has threatened to implement a global system of reciprocal tariffs on all U.S. trading partners.
In its editorial, The Globe and Mail argued that Canada should not be influenced by Trump's inconsistent rhetoric. Instead of engaging in protracted discussions over matters like illegal immigration and drug trafficking, Canada should adopt a dollar-for-dollar retaliatory tariff approach, while simultaneously fortifying its trade alliances and internal economic strategies. The board asserted that this pragmatic stance is essential to counter policies that could disrupt economies on both sides of the border.
U.S. economists have expressed concerns regarding the repercussions of the nation's aggressive trade policies. Some predict that the tariffs could significantly hinder U.S. economic growth and elevate consumer prices, raising the specter of stagflation – a condition marked by stagnant growth and rising inflation.
At a recent National Association for Business Economics conference, analysts voiced caution about the potential impact of tariffs on the U.S. economy. Economist Michael Strain from the American Enterprise Institute forecasted that the proposed import taxes might lower economic growth by as much as 0.5 percent.
In light of these developments, The Globe and Mail’s editorial concluded that Canada should disregard the tumult of Trump’s fluctuating policies and focus on decisive, reciprocal actions to safeguard its economic interests.
Rohan Mehta contributed to this report for TROIB News
The countermeasures, set to take effect on March 20, include a 100 percent tariff on imports of Canadian rapeseed oil, oil cakes, and peas, along with a 25 percent duty on Canadian aquatic products and pork, as detailed in a ministry statement.
The ministry argued that Canada's 100 percent tariff on Chinese electric vehicles (EVs) and the 25 percent levy on aluminum and steel products represent discriminatory actions that disrupt normal trade and infringe upon the legitimate rights and interests of Chinese businesses.
Originally tied to a U.S.-led initiative addressing the alleged overcapacity of Chinese EVs, these tariffs now highlight a broader trade conflict initiated by the Trump administration.
Since taking office, U.S. President Donald Trump has aggressively pursued protectionist strategies, implementing multiple tariffs and issuing threats against various trading partners. These actions aim to compel countries to align with U.S. demands but have destabilized global markets and prompted swift retaliatory responses, potentially leading to wider economic consequences.
Canada, having followed the U.S. lead in imposing tariffs on Chinese products, now finds itself targeted by Trump's tariff policies.
China perceives the tariffs from both the U.S. and Canada as unilateral measures that breach World Trade Organization regulations.
During a press conference on Friday, Chinese Foreign Minister Wang Yi called for the U.S. to reassess the outcomes of its trade wars and question whether the U.S. manufacturing sector has benefitted from such policies.
Wang emphasized that the economic and trade relationship between China and the U.S. is mutually advantageous and that collaboration leads to shared benefits. However, he warned that if the U.S. persisted in applying pressure, China would respond resolutely.
In the context of trade tensions, The Globe and Mail, a Canadian newspaper, has urged Ottawa to stand firm against Trump’s unpredictable tariff policies. The publication asserted that Trump's recent 25 percent tariffs on imports are not merely negotiating tactics but a calculated effort to create instability and exert power.
On Tuesday, the Trump administration escalated its trade measures by imposing tariffs on most imports from Canada and Mexico, though some tariffs were later suspended following pushback from U.S. industries. The exemptions, including those for auto and energy products, are set to expire on April 2, when Trump has threatened to implement a global system of reciprocal tariffs on all U.S. trading partners.
In its editorial, The Globe and Mail argued that Canada should not be influenced by Trump's inconsistent rhetoric. Instead of engaging in protracted discussions over matters like illegal immigration and drug trafficking, Canada should adopt a dollar-for-dollar retaliatory tariff approach, while simultaneously fortifying its trade alliances and internal economic strategies. The board asserted that this pragmatic stance is essential to counter policies that could disrupt economies on both sides of the border.
U.S. economists have expressed concerns regarding the repercussions of the nation's aggressive trade policies. Some predict that the tariffs could significantly hinder U.S. economic growth and elevate consumer prices, raising the specter of stagflation – a condition marked by stagnant growth and rising inflation.
At a recent National Association for Business Economics conference, analysts voiced caution about the potential impact of tariffs on the U.S. economy. Economist Michael Strain from the American Enterprise Institute forecasted that the proposed import taxes might lower economic growth by as much as 0.5 percent.
In light of these developments, The Globe and Mail’s editorial concluded that Canada should disregard the tumult of Trump’s fluctuating policies and focus on decisive, reciprocal actions to safeguard its economic interests.
Rohan Mehta contributed to this report for TROIB News
