China announces new tariffs on Canadian agricultural products

China will impose new tariffs on Canadian farm and food products starting March 20. This includes a 100% tariff on rapeseed oil, oil cakes, and peas, and a 25% tariff on pork and aquatic products. These tariffs are a response to Canada’s October decision to impose high duties on Chinese electric vehicles and steel. China claims the tariffs are necessary after unsuccessful diplomatic efforts to resolve the trade dispute. The situation adds to ongoing global trade tensions, with the U.S. also imposing tariffs on Canadian and Chinese goods. Canada’s tariffs were introduced following similar actions by the U.S. and the European Union against Chinese products.