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China Retaliates Against Canada by Imposing New Agriculture Tariffs

China retaliated against Canadian tariffs by imposing its own on $2.6 billion worth of agricultural and food products, mirroring the import duties Canada introduced in October. Excluding canola, a top Canadian export, could signal openness to future trade talks while also serving as a warning. The tariffs include 100% on rapeseed oil and a 25% duty on aquatic products and pork. The move is seen as a strategic signal by analysts, reminding Canada of the consequences of closely aligning with U.S. trade policy. The Canadian embassy in Beijing did not immediately respond to requests for comment. China's actions could be influenced by Canada's upcoming election, aiming for a more favorable government. China is a significant trading partner for Canada, with China being its second-largest trading partner and a crucial market for pork and canola exports. The impacts of the tariffs are expected to be significant across the industry, with a call for government support. China's actions could be seen as an opportunity to reset relations post the Canadian election, akin to what happened with Australia after its leadership change.