By Glen Hallick
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- China extended its anti-dumping probe into Canadian canola to March 9, due to the “complexity” of the allegations, the country’s commerce ministry announced on Thursday. The ministry said there will be a “fair and final ruling.” Last year, Beijing slapped tariffs on imports of Canadian canola in retaliation for Ottawa imposing stiff levies on imports of Chinese-made electric vehicles. The two countries reached a deal in January to reduce those duties.
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By Glen Hallick Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada…
- Six Republicans joined with 213 Democrats to pass a resolution in the United States House of Representatives on Wednesday to end the Trump administration’s tariffs on Canada. The motion now goes to the Senate for a vote. Since the resolution failed to get a two-thirds majority in the House, it can be vetoed by President Donald Trump. Democrat Rep. Gregory Meeks moved the motion, stating he has more of them to present, including those regarding tariffs on Mexico and Brazil.
- President Trump will be visiting China during the first week of April, a Chinese foreign ministry spokesperson said on Thursday. The agenda is being discussed and is likely to include extending the “trade truce” between the two countries. Differences between China and the U.S. regarding Taiwan will also be on the table. It was initially announced at the APEC Summit in October that Trump would visit China, with President Xi Jinping to travel to the U.S. later.
- Russia is reportedly importing foreign-made vehicles through China, Reuters said on Thursday. The move skirts trade sanctions imposed on Russia stemming from its ongoing invasion of Ukraine. Tens of thousands of vehicles have found their way into Russia via China including brands such as Toyotas, Mazdas and German luxury models.
