BEIJING: Canada will allow 49,000 Chinese electric vehicles (EVs) to be imported under new, preferential tariff rates, Prime Minister Mark Carney said Friday, after reaching a trade deal with China's leader Xi Jinping in Beijing.
At a press conference in the Chinese capital, the Canadian PM told reporters that "Canada has agreed to allow up to 49,000 Chinese electric vehicles into the Canadian market, with the most favored nation tariff rate of 6.1%."
"This is a return to the levels that existed prior to recent trade frictions."
Reduced tariffs
Carney also announced a deal to reduce tariffs on each country's products.
"Canada and China have reached a preliminary but landmark trade agreement to remove trade barriers and reduce, reduce tariffs."
"By March the first, Canada expects that China will lower tariffs on Canadian canola seed. The combined rate of approximately 15% [...] this change represents a significant drop from the current combined tariff levels of 84%."
Visa-free entry
China will allow Canadian visitors to enter the country visa-free, Carney stated, as the two nations aim to thaw frosty relations.
"I'm very pleased to share that President Xi in our meeting today has committed to ensuring visa-free access for Canadians travelling to China," he said.
