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Canada-China Trade Deal Slashes Canola Tariffs

Canada and China announced a preliminary trade deal on January 16, 2026, slashing tariffs on Canadian canola seed from 84% to 15% by March 1, unlocking a $4 billion market while easing retaliatory duties on peas, lobsters, and crabs. PM Mark Carney hailed the pact as a strategic reset, boosting agri-exports amid Trump's tariffs and stabilizing global food chains.