Canada offered tariff relief on some steel and aluminum products imported from the U.S. and China, a government document showed, in efforts to help domestic businesses battered by a trade war on two fronts.
China imported no soybeans from the U.S. in September, the first time since November 2018 that shipments fell to zero, while South American shipments surged from a year earlier, as buyers shunned American cargoes during the ongoing trade dispute between the world’s two largest economies.
Senior Canadian and Chinese officials discussed bilateral trade disputes involving canola and electric vehicles on Friday, Ottawa said, but gave no indication of any immediate breakthrough.
Prime Minister Mark Carney on Thursday said he expected to meet senior Chinese leaders soon but sidestepped a question about dropping tariffs on Chinese electric vehicles in exchange for relief from Beijing’s duties on canola.
U.S. data vital to global grain and soybean trading has gone dark during the country’s federal government shutdown, leaving commodity traders and farmers without crop production estimates, export sales data and market reports during the peak of the autumn harvest.
U.S. Treasury Secretary Scott Bessent said on Thursday the federal government would support American farmers in light of China’s refusal to buy U.S. soybeans amidst a trade war between the countries.
China is expected to import one million tonnes less of canola in 2025/26 than in the previous marketing year, the United States Department of Agriculture attaché in Beijing projected. China was projected to acquire 3.10 million tonnes of canola this year versus 4.10 million in 2024/25.