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Canada-China bilateral trade (January 2026)
$9.7B
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Imports
$6.9B
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Exports
$2.8B
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📋 Today's Briefing
Canada's proactive engagement with China on a tariff-reduction agreement has drawn attention amid the USMCA review. This strategic move by Ottawa reflects a delicate balancing act, responding to domestic pressures from the USMCA review and external trade measures from Beijing. The initiative underscores Canada's commitment to maintaining economic ties with China, despite potential concerns from its closest ally. Meanwhile, China's Foreign Ministry Spokesperson Mao Ning emphasized the sensitivity of the Taiwan issue, a core national interest. The announcement of countermeasures against Japanese politician Keiji Furuya underscores Beijing's zero-tolerance stance on Taiwan-related matters. This development adds to the already tense diplomatic relations between China and Japan. The bottom line: Canada's engagement with China on trade and the escalating tensions over Taiwan highlight the complex geopolitical dynamics in the region. As the USMCA review progresses, Canada's ability to navigate these delicate relationships will be crucial. Stay tuned to China Compass for the latest updates. China Compass is a daily intelligence briefing, tracking Canada-China relations, trade, and geopolitical signals. Visit www.chinacompass.ca for more.
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🔔 Top Signals
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📦 trade
Why Canada engaged China ahead of the USMCA review: Jerome Gessaroli in the National Review
Why it matters
Canada's engagement with China in a proposed tariff-reduction agreement reflects its strategic response to pressures from both within (the U.S.-Mexico-Canada Agreement review) and outside (China's trade measures).
→ The deal, described as an "agreement-in-principle," includes limited Chinese electric vehicle imports capped at about 3% of Canada's market and under standard tariffs, reflecting cautious engagement with China amid growing American influence in trade disputes.
Macdonald-Laurier Institute
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🤝 diplomatic
Foreign Ministry Spokesperson Mao Ning's Regular Press Conference on March 30, 2026
Why it matters
CCTV: This morning, the Ministry of Foreign Affairs posted on its website the decision to take countermeasures against Keiji Furuya, a member of Japan's House of Representatives.
→ Can you share more information on that? Mao Ning: The Taiwan issue is at the core of China’s national interests and a red line that cannot be crossed.
MFA China · 2026-03-30
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📦 trade
The sixth China International Fair for Imports andexports will be held from April 13 to 18 in Hainan.
Why it matters
The Sixth China International Consumer Products Expo, which will be held from April 13 to 18 in Hainan Province, is expected to feature over 3,400 brands from more than 60 countries and regions.
→ The expo will focus on new consumption fields such as green, health, digital, and intelligent technology, with advanced technologies like smart connected vehicles and smart home appliances being showcased in particular.
State Council · 2026-03-31
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⚖️ legal
The Ministry of Finance: cooperate actively in promoting legislative work for laws such as the Consumption Tax Law by 2026.
Why it matters
In 2026, the Ministry of Finance will cooperate closely to promote legislative work for laws such as the Consumption Tax Law, including amendments to the Accountants Registration Law, Government Procurement Law, Tax Collection and Administration Law, Social Assistance Law, and Property Rights Law.
→ It will also ensure the formulation and revision of budget law, local additional tax law, Resource Tax Law, and Regulations on Punishment and Disposition for Fiscal Illegal Acts.
Xinhua · 2026-03-31
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👥 social
Global ConnectionChinese Students in Italy Engage with Each Other in Chongqing and Appreciate the Charm of a Three-Dimensional City.
Why it matters
Recently, over 20 students from the Province of Alessandria in Italy conducted a ten-day exchange activity at Nankai Wanjinging Middle School in Chongqing.
→ This activity marks the start of the Chinese-Italian Exchange Program for Young People, aimed at promoting language learning, cultural exchange, and artistic exchanges between the two countries' teenagers to foster mutual understanding and friendship.
Xinhua · 2026-03-31
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📊 Market Snapshot
▲ Top Gainers
| WuXi Biologics |
HK$33.02 |
▲ +5.29% |
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| China Construction Bank |
HK$8.39 |
▲ +1.82% |
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▼ Top Losers
| Meituan |
HK$82.95 |
▼ -1.48% |
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| Haidilao |
HK$14.27 |
▼ -1.65% |
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| XPeng Inc |
HK$65.45 |
▼ -2.09% |
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💱 Currency Rates
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