China on Tuesday announced preliminary anti-dumping duties on Canadian canola imports, a fresh escalation in the year-long trade dispute that began with Ottawa’s imposition of tariffs on Chinese electric vehicle imports last August.
The provisional rate will be set at 75.8%, effective from Thursday, the Ministry of Commerce said in a statement.
ICE November canola futures fell 4% to a three-month low after the announcement.
China, the world’s largest importer of canola – also known as rapeseed – sources nearly all of its supplies of the product from Canada. The steep duties would likely all but end imports if they are maintained.
China sets temporary anti-dumping duty on Canadian canola
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