Daily brief
Canada and China have reached a trade agreement to slash tariffs on electric vehicles and canola, marking a reset in bilateral relations after years of disputes. The deal includes an annual quota for Chinese EV exports to Canada at preferential rates. The move represents a divergence from U.S. trade policy, with Washington stating Canada will regret allowing Chinese EVs into its market.
Shell and Mitsubishi are exploring options to sell their stakes in the LNG Canada export terminal, according to sources.
China's commerce ministry stated the outcomes of economic consultations with Canada, including on EVs and canola, are a positive step and open a path for expanded cooperation.
Industry leaders in Canada warn that the tariff deal with China could risk the competitiveness of the domestic auto sector.