BEIJING/SINGAPORE — China on Tuesday announced preliminary anti-dumping duties on Canadian canola imports, a fresh escalation in the year-long trade dispute that began with Ottawa’s imposition of tariffs on Chinese electric vehicle imports last August.
The provisional rate will be set at 75.8 per cent, effective from Thursday, the Ministry of Commerce said in a statement.
ICE November canola futures RSX5 fell 6.5 per cent to a four-month low after the announcement.
“This really came as a surprise and a shock,” said trader Tony Tryhuk of RBC Dominion Securities.
