SOURCE / ECONOMY
China-Canada trade drops in August, due to tensions caused by Ottawa
Published: Sep 10, 2024 05:25 PM
A ro-ro ship carrying electric vehicles docks at Taicang Port in Suzhou, East China's Jiangsu Province, on July 9, 2024. Photo: VCG

A ro-ro ship carrying electric vehicles docks at Taicang Port in Suzhou, East China's Jiangsu Province, on July 9, 2024. Photo: VCG




Trade between China and Canada dropped by 0.5 percent year-on-year in the first eight months this year to $57.66 billion, reversing the 2.4 percent growth seen in the first seven months, official data showed on Tuesday, as Canada-provoked trade tensions with China have negatively impacted bilateral ties, experts said.

According to data released by China's General Administration of Customs, China's imports from Canada fell by 4.7 percent on a yearly basis to $26.81 billion in the first eight months, compared with 0.7 percent growth in the first seven months.

"It is no surprise to see a decline in trade between China and Canada, as the Canadian side's unreasonable move to impose tariffs on Chinese products including electric vehicles has produced negative effect on the two countries' economic and trade ties," Liu Dan, a research fellow at the Center for Regional Country Studies at Guangdong University of Foreign Studies, told the Global Times on Tuesday.

Without any prior investigation, Canada announced a 100-percent additional tariff on Chinese EVs and a 25-percent tariff on steel and aluminum from China starting from October 1. 

China's Ministry of Commerce has vowed to take all necessary measures to defend the legitimate rights and interests of Chinese companies, if Ottawa fails to correct its mistakes.

On Monday, China initiated an anti-dumping probe into imported colza seeds from Canada, the ministry said.

The move was made in accordance with the Chinese laws and in compliance with the rules of the WTO, the ministry said.

"It's expected that dissatisfied industry players in the colza seed industry in Canada will express their concerns to the Canadian government, forcing it to ease trade tensions with China," Liu commented.

Liu urged Canada not to blindly follow the US' footsteps and instead objectively view China-Canada relations from the perspective of its own development interests.

Global Times