Canadian PM Carney announces that they will allow as many as 49k Chinese EVs into the Canadian market, with a most-favoured-nation tariff of 6.1%.

• In return, Canada anticipates that by March 1st China will reduce tariffs on Canola seed to a c. 15% combined rate. In addition to a resolution to other trade obstacles.

The announcement by Canadian PM Carney to allow 49k Chinese EVs into Canada with a low tariff marks a notable shift in trade relations that could enhance market access while lowering vehicle costs. In return, China's agreement to reduce tariffs on Canadian canola seed suggests a bilateral move towards improving economic ties, potentially benefiting commodities related to agriculture. This development might influence currency movements and trade balances, particularly for the CAD and relevant sectors.