China significantly reduces anti-dumping duties on Canadian canola in its conclusive decision
China Significantly Lowers Tariffs on Canadian Canola
On Saturday, China announced a major reduction in tariffs on Canadian canola, marking the conclusion of a 17-month anti-dumping investigation. This decision follows recent improvements in diplomatic ties between China and Canada. The move was revealed just one day after China declared it would lift certain tariffs on Canadian agricultural goods that were previously introduced during a trade dispute.
According to the Ministry of Commerce, the final anti-dumping tariff has been cut to 5.9%, a substantial decrease from the initial 75.8% rate set in August. This new tariff will take effect on March 1 and remain in place for five years. Despite the reduction, Canadian canola will still be subject to additional duties.
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