China and Canada have reached concrete arrangements to address trade disputes covering electric vehicles, steel and aluminum, canola, and agricultural and aquatic products, China’s Ministry of Commerce said on Friday.
The announcement followed talks in Beijing earlier the same day between Chinese President Xi Jinping and Canadian Prime Minister Mark Carney, who is paying an official visit to China at the invitation of Premier Li Qiang.
Under the arrangements, Canada will reduce its 100 percent tariff on Chinese electric vehicles to 6.1 percent for up to 49,000 vehicles annually, according to the ministry.
The two sides also issued a joint statement welcoming progress made through recent bilateral dialogues and committing to strengthen exchanges at all levels. Leaders pledged to advance cooperation in macroeconomic engagement, trade, energy, finance, public security, people-to-people ties, cultural exchanges and multilateral affairs.
China and Canada agreed to reinvigorate the high-level Economic and Financial Strategic Dialogue to address a broad range of issues aimed at strengthening bilateral economic relations.
They also signed an economic and trade cooperation roadmap, and agreed to expand cooperation in clean energy while strengthening collaboration in conventional energy sectors, including oil and gas development.
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Start your day informed with the AnewZ Morning Brief. Here are the top stories for 1st September, covering the latest developments.
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