China, Canada reach landmark preliminary trade deal

(VOVWORLD) -Chinese President Xi Jinping and visiting Canadian Prime Minister Mark Carney on Friday agreed on a new strategic partnership, marking a significant turning point after years of sour relations. 
China, Canada reach landmark preliminary trade deal - ảnh 1Canadian Prime Minister Mark Carney shakes hands with President of China Xi Jinping at the Great Hall of the People in Beijing, China on Friday, Jan. 16, 2026. Photo: Sean Kilpatrick/Pool via REUTERS

During their meeting in Beijing, President Xi said China and Canada should be reliable, mutually respectful, and mutually beneficial partners. He called on both countries to promote a healthy, stable, and sustainable relationship.

Prime Minister Carney called for building a new relationship adapted to new global realities, focusing on cooperation in agriculture, energy, and finance. “It’s a partnership that reflects the world as it is today, with an engagement that is realistic, respectful and interest-based,” Carney told a news conference in Beijing. He said Ottawa and Beijing had reached a landmark preliminary trade agreement aimed at tearing down trade barriers and cutting tariffs.

Canada expects that by March 1, China will reduce the combined tariff rate on canola from the current 84% to approximately 15%. In return, Canada will initially allow in up to 49,000 Chinese electric vehicles at a tariff of 6.1% on most-favored nation terms.

On Thursday following talks between Chinese Premier Li Qiang and Canadian Prime Minister Mark Carney, the two sides signed eight cooperation documents on trade, customs, energy, construction, culture, and public security.

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