(Bloomberg) -- China will start an anti-dumping probe into Canada’s rapeseed imports, with trade tensions escalating after Justin Trudeau’s government...
-- China will start an anti-dumping probe into Canada ’s rapeseed imports, with trade tensions escalating after Justin Trudeau’s government imposed tariffs on Chinese-made electric vehicles , steel and aluminum.Dense Cities With Low Emissions Suffer Most From Air Pollution, Study Finds
Canada announced a 100% levy on electric cars and 25% on steel and aluminum last month, joining western allies to protect domestic manufacturers. Rapeseed is used to produce oil for cooking or industrial purposes, and China is the world’s second-biggest importer of the commodity. China has targeted Canada’s trade before, halting shipments of canola in 2019 following the arrest of a top Huawei Technologies Co. executive in Vancouver on an American extradition request. The Asian nation has recently launched other probes, including into dairy imports from the European Union.
The most actively traded rapeseed meal futures on China’s Zhengzhou Commodity Exchange surged as much as 5.7% on Tuesday, while rapeseed oil rallied as much as 4.9%. Canola futures in North America fell almost 6%, the biggest intraday loss for the most-active contract since August 2022.
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