What happened: Following a high-level meeting between Mark Carney and Xi Jinping, China and Canada have agreed to ease tariffs on canola oil and electric vehicles after years of trade tensions.
Why it matters:
- The deal may boost trade and economic relations between the two countries.
- Canadian exporters of canola oil and electric cars stand to benefit from reduced costs.
MNN Take: This agreement marks a step towards improving bilateral trade by addressing key sectors affected by previous tariffs, potentially encouraging further cooperation.
Sources: BBC US & Canada