Canada's recent tariff agreement with China has sparked debate, with some critics viewing it as a risky move that undermines Western alliances. However, an article in the Macdonald-Laurier Institute argues that Canada is managing risk, given its reliance on US markets. This move comes ahead of the USMCA review, highlighting the complexities of Canada's trade strategy.

In other news, China has condemned the Philippines for disrupting peace in the South China Sea, accusing them of organizing joint patrols with external countries. Meanwhile, China's National Tariff Commission has adjusted duties on certain Canadian imports, impacting the foreign exchange market.