Canadian finance minister visits China

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Canadian Finance Minister Francois-Philippe Champagne visits China this week between Wednesday and Saturday to build closer strategic and economic ties with Canada's second-largest single-country trading partner.

During the visit, he and his delegation will meet with senior leaders from the financial sector and government to forge strategic partnerships and attract new investment as part of Canada's strategy to diversify its economy.

Canadian Prime Minister Mark Carney met with President Xi Jinping in Beijing in January this year, and the two countries reached an agreement to allow 49,000 Chinese electric vehicles to enter Canada at a preferential tariff of 6.1 percent, replacing the original 100 percent tariff.

China, meanwhile, reduces tariffs on Canadian canola and other agricultural products until the end of 2026, but Canadian pork will still be subject to a retaliatory tariff of 25 percent.