China Launches Anti-Dumping Probe on Canadian Canola

China has initiated an anti-dumping investigation into Canadian canola and chemical products in response to Canada's recent imposition of a 100% tariff on Chinese electric vehicles (EVs), which Canadian Prime Minister Justin Trudeau justified by citing unfair competition from China. The Chinese commerce ministry expressed strong opposition to Ottawa's tariffs, asserting that Canadian canola exports to China reached $3.47 billion in 2023, with prices falling, leading to claims of dumping. This retaliatory move is part of a broader pattern of escalating trade tensions, as the U.S. and EU have also imposed similar tariffs on Chinese EVs due to allegations of subsidies that undermine local industries. China's statement indicated that domestic canola-related industries have suffered losses due to this alleged unfair competition. In light of these developments, China plans to bring the matter before the World Trade Organization's dispute resolution mechanism. As the trade dispute unfolds, the prices of canola and rapeseed futures have reacted sharply in both Canadian and Chinese markets.