Canadas’ Prime Minister Mark Carney has travelled to Beijing to strike a trade deal with China under a new “partnership” while still negotiating a trade deal with the US. Canada and the US have still not signed on a trade deal with each other. The Canadian Prime Minister previously described China as Canada’s major foreign security threat during his election campaign, but his tune changed after President Donald Trump announced tariffs on Canadian products.
In an agreement announced in Beijing, Canada has reduced tariffs on Chinese electric vehicles from 100% to 6.1%, while in return, China is expected to reduce tariffs on Canadian agricultural products and seafood including the canola seeds tariff from 84% to 15%. Prime Minister Carney said that Canada and China are forging a new strategic partnership and both countries support multilateralism.
Questioned about what he meant about “the new world order”, Prime Minister Carney said that this order is still being formed according to the newly established trade agreements while previous frameworks and agreements are being eroded. Prime Minister Carney said that China’s and Canada’s previous relationship was uncertain and this held back investment, making Canada more reliant on its largest trading partner, the US, and this is why Canada has begun recalibrating its relationship with China.
On Taiwan, Prime Minister Carney said that Canada has re-affirmed its One-China policy enacted in 1970.
The full press conference can be viewed here.
Newsroom
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