China reduces anti-dumping duties on Canadian rapeseed
On Saturday, China sharply reduced its tariff rate on Canadian canola in the final decision following a 17-month anti-dumping investigation, following a warming of relations between Beijing and Ottawa.
This announcement came a day after China announced the suspension of some duties on Canadian agricultural products imposed during its trade dispute with Canada.
According to a statement from the Commerce Department, the final anti-dumping duty was reduced to 5.9% from the provisional 75.8% imposed in August. The tax will take effect on March 1 and will remain in effect for five years, Reuters reports.
In addition to the anti-dumping duty, Canadian canola remains subject to China’s standard import duty of 9%, bringing the total effective duty to 14.9%.
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