During Finance Minister François-Philippe Champagne’s recent trip to China, Chinese tariffs on Canadian pork products persisted despite discussions. Champagne highlighted the importance of building relationships, stating that instant solutions were unrealistic. The ongoing 25% surtax on Canadian pork was a response to Ottawa’s imposition of a 100% levy on Chinese electric vehicles.
Additionally, China had placed tariffs on agricultural goods such as canola meal. However, in January, an agreement was reached allowing 49,000 Chinese electric vehicles into Canada at reduced tariff rates in exchange for China reducing or eliminating tariffs on agricultural products.
Champagne acknowledged the trade challenges surrounding pork and seafood, emphasizing the larger vision of closer engagement and collaboration between the Canadian and Chinese governments. He stressed the significance of relationship-building over transactional approaches, citing the need for continuous dialogue and engagement to foster trade relations.
During a news conference, Champagne discussed enhancing the presence of Canadian financial services in China. He mentioned discussions with Chinese officials regarding granting Canadian banks more licenses to offer a broader range of services and improved access to bond markets to support Canadian exporters operating in China.
The minister also raised Canada’s human rights stance and highlighted the importance of supply chain integrity during his discussions with Chinese counterparts. Addressing concerns about forced labor in China, Champagne reiterated Canada’s commitment to upholding international standards in bilateral trade.
Despite challenges, Champagne remained optimistic about the potential for strengthened ties between Canada and China. He expressed hopes for increased collaboration in financial services and anticipated Vice-Premier He Lifeng’s visit to Canada in the near future.
In a separate development, Liberal MP Michael Ma apologized for raising questions about forced labor in Shenzhen, clarifying that his inquiries were not related to Xinjiang. Prime Minister Mark Carney reiterated Canada’s stringent measures to prevent products made with forced labor from entering the supply chain, emphasizing the country’s commitment to ethical trade practices.