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$1207.5
Soybean Oil — Chicago (CBOT)
$441
Soybean Oil — Dalian (DCE)
$744
Sunflower Oil — FOB Black Sea
$1,370
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NewsOils and Fats Sector Coverage

China Signals Readiness To Lift Canola Tariffs If Canada Drops EV Duties

Fats and oils processing
August 20, 2026
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زيت النخيل أصبح وقودا لسيارات السباقات

China's ambassador to Canada, Wang Di, said in an exclusive interview with "CTV Question Period" that China would lift tariffs on canola, the commercial variety of Canadian rapeseed, if Canada removes its duties on electric vehicles.

Asked by "CTV Question Period" host Vassy Kapelos whether China's tariffs were a direct response to Canada's electric vehicle duties, Wang said: "The question you raised touches the heart of the problem in our trade relations."

"China's tariffs on Canadian agricultural products are a retaliatory measure against Canada's tariffs on electric vehicles and its unilateral, unjustified tariffs on Chinese steel and aluminium products."

He added: "If Canada is prepared to correct this practice, China will respond accordingly as well."

As a reminder, Beijing, the world's largest importer of rapeseed, imposed preliminary tariffs of 75.8% on Canadian rapeseed imports in August. Analysts have previously noted that the European Union could become a key market for Canadian rapeseed, with imports expected to reach a record 7.3 million tonnes this season. Canada's share could meanwhile reach 1.4 million tonnes.