Canadian farmers face $4 billion loss as China slaps 75.8% tariff tomorrow
Key Points
- China imposes a 75.8% tariff on Canadian canola exports, dra...
China just served Canada a 75.8% tariff sandwich on canola exports, effective tomorrow, August 14th. That's not a typo – nearly three-quarters of the price will now be pure tax, making Canadian rapeseed about as appealing to Chinese buyers as a soggy fortune cookie.
This nuclear option comes courtesy of an escalating trade spat that started when Canada decided to tax Chinese electric vehicles and steel. Apparently, China's response philosophy is "go big or go home," and they definitely didn't choose home.
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