Canada Signs New Deals With China After Trump Drops Trade Demand

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1. 34m ago

   Canada and China deepen trade and financial ties after U.S. shifts stance

   Canada and China have signed new agreements covering trade and financial-sector cooperation following the conclusion of their second Strategic Economic and Financial Dialogue in Vancouver. The deals include tariff relief for British Columbia crab harvesters and a framework to deepen banking and insurance links. A delegation of Canadian CEOs is also preparing to travel to China for the APEC meetings, signaling a broader commercial re-engagement. The moves come after the United States dropped a key trade demand that had previously pressured Ottawa to limit economic ties with Beijing.

   Why it matters

   Relations between Ottawa and Beijing had been frozen since 2018 over the detention of Canadian citizens and Huawei executive Meng Wanzhou. The U.S. had inserted a "non-market economy" clause in the USMCA trade deal to discourage Canada from pursuing a free-trade agreement with China. With that pressure lifted, both sides are moving quickly to restore commercial channels, starting with sector-specific deals rather than a comprehensive FTA.

   What is confirmed

   • The second China-Canada Strategic Economic and Financial Dialogue concluded in Vancouver with new agreements signed.
   • China and Canada signed a deal to deepen financial-sector ties covering banking and insurance cooperation.
   • Chinese tariff relief on British Columbia crab imports was confirmed by harvesters and officials.
   • Canadian CEOs are planning a trip to China for the upcoming APEC meetings to expand trade ties.
   • The United States dropped a trade demand in USMCA that had discouraged Canada from pursuing closer economic ties with China.

   Still unconfirmed

   • China may lift remaining canola and pork restrictions as a next goodwill gesture.

   What to watch next

   • APEC summit outcomes and any sideline meetings between Canadian and Chinese leaders
   • Implementation timeline for financial-sector market access commitments
   • Whether China extends tariff relief to other Canadian seafood and agricultural products
   Sources used for this update (17)

   1. www.newsweek.com — Correction policies and requests
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   8. Newsweek — Canada Signs New Deals With China After Trump Drops Trade Demand
   9. South China Morning Post — On the right track: Beijing, Ottawa ramp up trade ties as CEOs plan China trip for Apec
   10. Times Colonist — Chinese tariff relief welcomed by B.C. crab harvesters
   11. BNN Bloomberg — China and Canada sign deal to deepen financial sector ties
   12. CGTN — Second China-Canada Strategic Economic and Financial Dialogue concludes in Vancouver
   confidence 88%