Latest news with #tradeissues
CTV News
4 days ago
- Business
- CTV News
Carney agrees to ‘regularize' communication between Canada and China
Prime Minister Mark Carney arrives to a caucus meeting on Parliament Hill in Ottawa on Wednesday, June 4, 2025. THE CANADIAN PRESS/Sean Kilpatrick In a notable move amid recent diplomatic and trade tensions, Prime Minister Mark Carney has agreed to 'regularize channels of communication between Canada and China' after having a conversation with a top Chinese official on Thursday. According to a readout from the Prime Minister's Office (PMO) released late Thursday, Carney and Chinese Premier Li Qiang also agreed to work together to address the fentanyl crisis and discussed trade between the two countries. 'Prime Minister Carney took the opportunity to raise trade irritants affecting agriculture and agri-food products, including canola and seafood, as well as other issues, with Premier Li,' the readout says. 'They welcomed their trade ministers' meeting this week, during which Canada and China agreed to convene the Joint Economic and Trade Commission (JETC) at an early date to address outstanding trade issues,' the statement goes on to say. The PMO has confirmed to CTV News this was Carney's first conversation with Premier Li since becoming prime minister. In an interview with CTV Question Period back in May, China's Ambassador to Canada Wang Di expressed China's desire to meet with the Carney government 'as soon as possible' to discuss the latest trade issues between the two countries. Last October – under the government of former prime minister Justin Trudeau – Canada followed the U.S. lead and imposed a 100 per cent tariff on Chinese electric vehicles (EVs), accusing Beijing of 'distorting global trade' by exporting EVs at 'unfairly low prices.' Canada also hit China with a 25 per cent tariff on Chinese steel and aluminum. Following its own so-called anti-discrimination investigation, China retaliated by imposing a 100 per cent tariff on Canadian canola oil and canola meal, along with several other tariffs on Canadian agricultural products. In 2024, Canada's total canola exports to China were valued at almost $5 billion. China is also Canada's second-largest seafood market. Premiers have been putting pressure on Carney to improve trade relations with China and get those tariffs lifted. At the First Ministers' Meeting in Saskatoon on Monday, Carney said the federal government planned to work urgently to remove Chinese tariffs on impacted Canadian agriculture and seafood products. 'The Canadian government is engaging with its Chinese counterparts at the ministerial level and we'll continue those discussions,' Carney told reporters on Monday. The relationship between Canada and China still has not recovered since 2018 after Canada arrested Huawei executive Meng Wanzhou on behalf of the United States over bank fraud charges. Days later, China separately detained Canadians Michael Kovrig and Michael Spavor over allegations of espionage – accusations they denied. Both men were eventually released after spending more than 1,000 days in a Chinese prison, not long after Meng herself was released from house arrest. China's ambassador to Canada – who assumed his role in June 2024 – acknowledged those past tensions when speaking to CTV Question Period last month but insisted China is 'ready to move on and look ahead.' 'We are ready to work together with Canada to bring our relationship back onto the right track,' Wang said.
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The Independent
6 days ago
- Business
- The Independent
Trump softening stance on ‘very tough' Xi in China trade war
US President Donald Trump both complimented and criticized Chinese President Xi Jinping in a Truth Social post, stating he likes Xi but finds him "VERY TOUGH" to make a deal with. Trump's softened tone comes as he is reportedly eager to speak with Xi to resolve trade issues, despite accusing China of violating previous agreements. A former Trump official said the president believes direct communication with Xi can cut through the 'noise' and address the core issues. Daniel Russel, former assistant secretary of state, suggests Trump's eagerness signaled weakness to Beijing, potentially hardening its stance. Trade tensions between the U.S. and China have escalated, with both countries accusing each other of violating agreements and implementing restrictive measures.
News24
01-06-2025
- Business
- News24
Trump, Xi likely to speak soon on minerals trade dispute, aides say
US President Donald Trump and Chinese President Xi Jinping will speak soon to iron out trade issues including a dispute over critical minerals, Treasury Secretary Scott Bessent said on Sunday. Trump on Friday accused China of violating an agreement with the U.S. to mutually roll back tariffs and trade restrictions for critical minerals. "What China is doing is they are holding back products that are essential for the industrial supply chains of India, of Europe. And that is not what a reliable partner does," Bessent said in an interview with CBS' "Face the Nation." "I am confident that when President Trump and Party Chairman Xi have a call, that this will be ironed out. But the fact that they are withholding some of the products that they agreed to release during our agreement - maybe it's a glitch in the Chinese system, maybe it's intentional. We'll see after the president speaks with the party chairman." Trump said on Friday he was sure that he would speak to Xi. China said in April that the two leaders had not had a conversation recently. Asked if a talk with Xi was on Trump's schedule, Bessent said, "I believe we'll see something very soon." White House economic adviser Kevin Hassett said no specific date for the conversation has been set, but there have been discussions that the leaders will talk about last month's Geneva agreement on some tariff disputes.
Reuters
15-05-2025
- Business
- Reuters
New Canadian agriculture minister to tackle China, US trade issues
WINNIPEG, Manitoba, May 15 (Reuters) - Canada's new agriculture minister, Heath MacDonald, said in an interview on Thursday that tackling trade issues with China and the United States are his most pressing priorities. The two-front trade war with the world's largest economies has stressed out farmers in Canada, a major canola, wheat and pork exporter, and impacted spring planting plans. MacDonald was sworn in on Tuesday and said trade issues are "center stage" after speaking with Canada's canola industry and provincial agriculture ministers. Canada faces tariffs from China on Canadian canola meal and oil, as well as peas, pork and seafood products. It is also bracing for an anti-dumping ruling from China on Canadian canola seed exports. About half of Canada's canola exports, also known as rapeseed, go to China. "It's front and center and it will be front and center from me towards the prime minister's office," MacDonald said of the Chinese situation. Canada's agriculture industry is also affected by tariffs on some products from the Trump administration, such as steel and aluminum used in agricultural machinery. There is also a long-simmering dispute over Canada's dairy supply management system, which restricts imports and protects Canadian production. MacDonald said he hoped to meet with U.S. Agriculture Secretary Brooke Rollins as soon as possible and to work with American congressional representatives and agriculture officials from states that benefit from cross-border agricultural trade. He reiterated Prime Minister Mark Carney's position that the Canadian supply management system is off the table in trade negotiations. "I think supply management is extremely important to Canada. It's certainly important to my home province and I'll do everything I can to ensure that it stays as is," said MacDonald. MacDonald is from Prince Edward Island and was a member of the House of Commons agriculture committee. He was finance minister of the PEI provincial government. His immediate predecessor in the agriculture portfolio was Kody Blois, a young farmer from Nova Scotia, who was dropped from Carney's cabinet in a surprise to many in Canada's agriculture industry.
