Hey folks, big news from the world of trade and diplomacy! Canadian Prime Minister Mark Carney touched down in Beijing earlier this month, marking the first visit by a Canadian PM in eight years. Why does this matter? It could shake up trade deals that affect your commute and your wallet. 🚀
First up: electric vehicles. China agreed to cut import taxes on Chinese-made EVs from 100% to just 6.1%, with an annual cap of 49,000 cars (rising to 70,000 over five years). Imagine zipping through Jakarta or Mumbai in a budget-friendly EV! 🚗⚡
On the other side, Canada’s canola and other agricultural exports will get friendlier tariffs in China before March 1, 2026. That means lower prices for cooking oil and snacks across South and Southeast Asia. 🌾🥨
Both sides also rolled out the China-Canada Economic and Trade Cooperation Roadmap: the Joint Economic and Trade Commission (JETC) is being upgraded to ministerial level, and dialogues on intellectual property and trade remedies are back on track. It’s like leveling up their trade game. 💼✨
The roadmap covers eight key areas—from green and sustainable trade to e-commerce, energy, consumer goods, SMEs, and new materials—with 28 project proposals ready to go. Think of it as a playlist of partnership hits. 🎶
They also reconfirmed support for a rules-based multilateral trading system under the World Trade Organization and will collaborate through APEC, with Canada backing China’s hosting of the 2026 APEC Leaders’ Meeting. 🌐🤝
PM Carney called the trip "historic and productive", noting that since 2017 the world has changed a lot in tech and the energy transition. His advice? Move fast, find shared wins, and build on where our interests align. ⚡
With this new "strategic partnership" in place, expect more cross-border collabs, greener trade, and maybe even those affordable EVs hitting your streets soon. Stay tuned! 👀
Reference(s):
Reporter's notebook: China, Canada to forge new strategic partnership
cgtn.com
