Canada and India are working to rebuild trade ties and explore new areas of cooperation after a two-year chill, with Ottawa keen to restart trade negotiations under “a new process”, Canadian Trade Minister Maninder Sidhu said on Thursday
Canada’s agriculture minister Heath MacDonald said in an interview on Monday his weeklong trip to China is evidence of bilateral relations beginning to thaw, something desperately needed by Canada’s farmers and canola exporters.
China will suspend retaliatory tariffs on U.S. imports, including duties on farm goods, after last week’s meeting of the two countries’ leaders, Beijing confirmed on Wednesday, but imports of U.S. soybeans still face a 13 per cent tariff.
China’s most active Zhengzhou rapeseed (canola) meal futures posted their largest daily gain in nearly three months on Monday, after Canadian Prime Minister Mark Carney and Chinese President Xi Jinping met in South Korea last week without securing a breakthrough on tariffs.
Prime Minister Mark Carney agreed to visit China after meeting with President Xi Jinping on Friday, in an encounter that may have marked a turning point but offered no breakthroughs on trade.
Prime Minister Mark Carney will meet with Chinese President Xi Jinping on Friday afternoon in South Korea, the prime minister’s office said on Thursday.
China’s state-owned COFCO bought three U.S. soybean cargoes, two trade sources said, the country’s first purchases from this year’s U.S. harvest, shortly before a summit of leaders Donald Trump and Xi Jinping.