China and Canada announce tariffs relief
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China has reported its economy expanded at a 5% annual pace in 2025, buoyed by strong exports despite U.S. President Donald Trump’s tariffs.
China will in turn cut its own tariffs on Canadian canola products, Prime Minister Mark Carney of Canada said in Beijing on Friday.
Official figures show the economy grew by 5% in 2025 but growth slowed to 4.5% in the final three months of the year.
China has reported its trade surplus surged to a record of almost $1.2 trillion last year as exports to other countries made up for slowing shipments to the United States under President Donald Trump
China reports its economy expanded at a 5% annual pace in 2025, buoyed by strong exports despite Trump's tariffs
As U.S. imports from China have declined amid the two countries’ trade war, China has sent more exports to Southeast Asia, Africa, Latin America and elsewhere.
Prime Minister Mark Carney witnessed the signing of an agreement to co-operate more with China on clean and conventional energy the first day of talks in Beijing on Thursday, after years of difficult relations between the two countries.
Cattle farmers may face financial uncertainty and hardship after China added a huge tariff on American beef imports last month.