China and Canada announce tariffs relief after a high-stakes meeting between Carney and Xi

Key Highlights

• China will lower tariffs on Canadian canola oil from 85% to 15% by March 1.
• Canada will tax Chinese electric vehicles at a most-favoured-nation rate of 6.1%.
• This meeting is the first visit by a Canadian leader to China in nearly a decade.
• The agreement signals a potential reset in strained Canada-China relations.
• Xi Jinping described the meeting as a 'turnaround' in their relationship.