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China has launched a one-year-long anti-dumping probe into Canadian rapeseed, evaluating imports from 1 January to 31 December 2023, Reuters reports, citing a statement by China’s Commerce Ministry. “Canada’s canola exports to China have increased significantly and are suspected of dumping, reaching USD 3.47 bn in 2023, with a 170% y-o-y increase in volume and a continuous decline in price,” a spokesperson for China’s Ministry of Commerce said in a statement last week. The move comes after Canada announced plans to impose a 100% tariff on EVs and a 25% tariff on steel imports from China.
China calls on Spain to ease EU trade tensions: Chinese President Xi Jinping encouraged visiting Spanish Prime Minister Pedro Sanchez to take a “constructive role” in easing the strained relationship between Beijing and the European Union, Reuters reports. In response, Sanchez expressed hope that the EU could avoid a trade war with China, despite Brussels considering tariffs on Chinese-made electric vehicles.
Tension has been brewing: Beijing warned earlier this year that tensions with the EU over its proposal to impose tariffs of up to 36.3% on Chinese EVs could lead to a trade dispute, according to Reuters. This came shortly after China initiated a retaliatory anti-dumping investigation into European pork imports.
ON A WIDER SCALE- Chinese export growth likely slowed in August to its slowest pace in four months, caused by a slump in global demand and rising trade barriers, according to a Reuters poll. Trade data is expected to report outbound shipments rising at 6.5% y-o-y in August, down from 7.0% in July. China’s inbound shipments are expected to have grown by 2% in August, falling from July’s 7.2% growth rate.
