Fashion at work…

Editor’s note: In the play Hamlet, the pompous, fastidious Polonius proclaims:

“The apparel oft proclaims the man”

Prime Minister Carney and President Xi secured a preliminary agreement-in-principle with landmark measures to remove trade barriers and reduce tariffs:

  • By March 1, 2026, Canada expects that China will lower tariffs on Canadian canola seed to a combined rate of approximately 15%. China is a $4 billion canola seed market for Canadian producers, and this change represents a significant drop from current combined tariff levels of approximately 85%.
  • Canada expects that Canadian canola meal, lobsters, crabs, and peas will not be subject to relevant anti-discrimination tariffs from March 1, 2026, until at least the end of this year.

Together, these results will help unlock nearly $3 billion in export orders for Canadian workers and businesses as they realise the full potential of the massive Chinese market of 1.4 billion people.

Finally, to build on this momentum, Canada has set an ambitious goal to increase exports to China by 50% by 2030. To achieve this outcome, Prime Minister Carney and President Xi discussed increasing two-way investment in clean energy and technology, agri-food, wood products, and other sectors.

Source: Prime Minister Press Release