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Canada’s farm income dropped 15% in 2024 due to rising costs and export tariffs, with China offering to lift canola tariffs if Canada removes EV tariffs.
Canada’s agricultural sector faces worsening financial stress, with farm income down 15% in 2024 and interest costs rising nearly 29%, worsened by export-blocking tariffs.
China has offered to lift its canola tariffs if Canada removes its EV tariffs, a move that could restore up to $5 billion in annual exports.
While Ottawa has provided temporary relief through expanded support programs and loan deferrals, these do not address lost markets.
Critics say maintaining EV tariffs harms a globally strong agricultural industry with minimal domestic EV manufacturing.
Experts urge a policy shift to prioritize pragmatic trade over symbolic industrial disputes, warning that inaction risks further harm to farmers, rural communities, and Canada’s international credibility.
Los ingresos agrícolas de Canadá cayeron un 15% en 2024 debido al aumento de los costos y los aranceles de exportación, y China ofreció levantar los aranceles de canola si Canadá elimina los aranceles de vehículos eléctricos.