China is the latest country to announce new tariffs on Canadian goods.
On Saturday the country announced they would target peas, oil cakes, and rapeseed oil, including canola, with a 100 per cent tariff. Pork and aquatic products, like seafood, will face a 25 per cent duty. The new tariffs come into effect March 20.
It’s in response to Canada’s tariffs on Chinese goods, announced in the fall. Canada put a 100 per cent levy on Chinese electric vehicles and a 25 per cent duty on Chinese aluminum and steel.
The government said the goal was to level the playing field for Canadian car companies “by limiting imports into Canada of unfairly traded Chinese-produced EVs.”
China is one of Canada’s largest trading partners.
In 2024, Canada exported nearly $5 billion dollars of canola products to China, according to a news release from the Canadian Canola Growers Association. China was also the second largest buyer of canola products in 2024.
“New tariffs from China on Canadian canola oil and meal will have a devastating impact on canola farmers and the broader value chain at a time of increased trade and geopolitical uncertainty,” wrote Chris Davison, Canola Council of Canada president and CEO, in the release.
The group said that about 40,000 farmers rely on canola for their livelihood.
In 2023, China was the second largest buyer of Canadian seafood, after to the United States, according to a government review of the fish and seafood trade.
Nova Scotia was the largest seller of seafood, exporting $2.45 billion worth of it in 2023, with New Brunswick in second at $1.68 billion, and British Columbia in third with $1.33 billion. Those three provinces represent 72 per cent of the total value of seafood exports in the whole country.
Lobster was the most valuable export in 2023 at $2.63 billion. The Maritimes were the largest supplier of lobster, representing 93 per cent of the market, with Nova Scotia in the lead at 51,200 tonnes. New Brunswick sold 22,200 tonnes and Prince Edward Island 7,100 tonnes.
The U.S. has gone back and forth with their tariffs on Canadian goods. Last week, President Donald Trump reinstated tariffs before pausing them for a month for the second time.
If the U.S. follows through with tariffs, Canadian seafood would face a 25 per cent tariff from the two largest importers.
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