China's Ministry of Commerce said on Friday that China and Canada have reached specific arrangements to address trade issues involving electric vehicles, steel and aluminum products, canola, and agricultural and aquatic goods.
The announcement followed a meeting between President Xi Jinping and Canadian Prime Minister Mark Carney in Beijing earlier the same day. At the invitation of Chinese Premier Li Qiang, Carney paid an official visit to China from Wednesday to Saturday.
According to the arrangements, Canada will reduce its 100 percent tariff to 6.1 percent on up to 49,000 Chinese electric vehicles annually, said the ministry.
During Carney's visit to China, the two sides issued a joint statement on Friday, saying that leaders of both countries welcomed the progress made in recent bilateral dialogues.
The leaders committed to strengthening exchanges at all levels and to advancing outcomes in macroeconomic engagement, economic and trade cooperation, energy, finance, public security and safety, people-to-people ties and cultural exchanges, and multilateralism, said the statement.
The two sides decided to reinvigorate the high¬-level China-Canada Economic and Financial Strategic Dialogue to discuss wide ranging related issues to strengthen bilateral economic relations, according to the statement.
They also signed an economic and trade cooperation roadmap, and agreed to support exchanges and cooperation in clean energy, and strengthen cooperation in conventional energy such as oil and gas resource development, it said.
Canadian PM concludes China trip with agreements on trade, tariff reduction
