Canada’s Prime Minister Mark Carney announced a deal with China’s Xi Jinping on Friday to reduce tariffs on each country’s products after the two leaders met in Beijing.
“Canada and China have reached a preliminary but landmark trade agreement to remove trade barriers and reduce, reduce tariffs,” Carney told a news conference in the Chinese capital.
“By March the first, Canada expects that China will lower tariffs on Canadian canola seed. The combined rate of approximately 15 percent… this change represents a significant drop from the current combined tariff levels of 84 percent.”
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