China hits Canada with anti-dumping probe on canola imports in response to EV tariffs
The Hindu
China plans anti-dumping investigation on Canadian canola amid trade tensions, impacting oilseed futures and global supply chains.
China said on Tuesday (September 3, 2024) it plans to start an anti-dumping investigation into canola imports from Canada, after Ottawa moved to impose tariffs on Chinese electric vehicles, lifting prices of domestic rapeseed oil futures to a one-month peak.
Canada has followed the lead of the United States and European Union, and announced last week a 100% tariff on imports of Chinese electric vehicles and a 25% tariff on imported steel and aluminium from China.
"China strongly deplores and firmly opposes the discriminatory unilateral restrictive measures taken by Canada against its imports from China despite the opposition and dissuasion of many parties," a commerce ministry spokesperson said in a statement.
The ministry said China will also initiate an anti-dumping investigation into some Canadian chemical products.
More than half of canola produced in Canada makes its way to China, the world's biggest oilseed importer. Canola, also called rapeseed for certain variants, is used as a cooking oil and in a wide range of products including renewable fuels.
China's rapeseed meal futures on the Zhengzhou Commodity Exchange jumped 6% to 2,375 yuan ($333.56) per metric ton following the announcement, hitting its highest since August 6.
The ICE canola contract for November delivery fell 4.7% to $586.8 per metric ton.
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
Nissan cuts U.S. production, offers buyouts to workers in global restructuring plan to boost profitability.
Finance Minister Nirmala Sitharaman to present record eighth consecutive Union Budget, focusing on economic growth and middle-class relief.
Deputy Commissioner of Police in Manesar imposes prohibitory orders ahead demonstration by temporary Maruti workers, sparking criticism from labour rights activists.
SoftBank is in talks to invest as much as $25 billion into OpenAI, the Financial Times reported.
Benchmark indices Sensex and Nifty rebounded, led by Bajaj Finance and Bajaj Finserv, despite early losses and FII selling.
Rupee weakens against US dollar due to FED's hawkish outlook, foreign fund outflows, and domestic market trends.
According to the company, the technology, protected by multiple international patents, facilitates the creation of a plastic-to-plastic circular economy, where commonly used plastics such as polyolefin packaging no longer need to be down-cycled, incinerated or landfilled at the end of their life. Instead, they can be continuously recycled in a closed-loop, without any loss of quality.
Meta beat Wall Street expectations for fourth-quarter revenue on Wednesday but predicted sales in the current first quarter may not meet forecasts.
Union Budget 2025: Analysis of Indian economy's growth patterns, fiscal spending, and impact on consumption trends, highlighting need for policy changes.
OpenAI warns of Chinese companies reverse engineering AI models, sparking tensions over intellectual property protection.
NCLT orders inquiry against Byju's resolution professional, restores Aditya Birla Finance as financial creditor, nullifies CoC reconstitution.
U.K. Chancellor Rachel Reeves signals that Britain was not destined to decline, announces a slew of projects and regulatory changes.
The Centre on January 29 urged airlines to maintain ‘reasonable fares’ for devotees making their way to Prayagraj for the ongoing Maha Kumbh. IndiGo said it has slashed down ticket prices by 30% to 50% on flights to and from the pilgrim city.
The Centre on January 29 urged airlines to maintain ‘reasonable fares’ for devotees making their way to Prayagraj for the ongoing Maha Kumbh. IndiGo said it has slashed down ticket prices by 30% to 50% on flights to and from the pilgrim city.
Union Budget 2024 slashes agriculture subsidies, farmers demand MSP implementation, loan waivers, and comprehensive crop insurance in 2025 Budget.
Budget updates: India's Union Budget 1955-56 under Finance Minister C.D. Deshmukh laid the foundation for industrialization and economic growth.
Stock market indices Sensex and Nifty surged nearly 1% on Wednesday, driven by IT, capital goods, and industrial stocks.
Union Cabinet approves higher ex-mill price for ethanol from C heavy molasses, advancing 20% ethanol blending target to 2025-26.