Canada signs China deals as U.S. tariff talks drag on over lumber, steel and autos

Canada signed new economic agreements with China late Monday, as Ottawa tries to ease trade tensions with Washington, Newsweek reported. The deals followed talks in Vancouver. Prime Minister Mark Carney is preparing to travel to Shenzhen, China, for a summit of Asia-Pacific economies ¹.

China's Foreign Ministry had announced that its vice premier, He Lifeng, would co-chair a Canada-China economic and financial dialogue in Canada on November 9 ². Canada's finance minister, François-Philippe Champagne, and trade minister, Maninder Sidhu, hosted him ¹.

What Canada and China agreed

The talks produced three agreements. They cover cooperation among the two countries' finance ministries, financial regulators and central banks. Both sides also welcomed progress on a currency-swap arrangement and agreed to pursue greater access to each other's financial-services markets ¹.

The two countries also agreed to extend an existing trade deal until the end of 2028. China will keep charging lower tariffs on Canadian canola meal, peas, lobster and crab. Canada will keep letting certain Chinese steel and aluminum products in without extra tariffs ¹.

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Newsweek reported that Canadian canola meal exports to China more than doubled, from $104 million to $277 million, after China eased its tariff. Goods trade between the two countries reached $89 billion last year ¹.

Where the U.S. talks stand

Carney said Washington withdrew a proposal that would have given the United States final approval over Canada's trade agreements with other countries. Newsweek reported that Washington dropped that demand last week, along with others on language and culture ¹.

That does not mean a deal is near. President Donald Trump has said a deal with Canada is close, but Newsweek reported that significant differences remain. A Canadian government official told the outlet that progress is slow and there is "still a way to go before we see any deal." ¹

Tariffs on lumber, steel, aluminum and automobiles remain central sources of tension ¹. Canada's foreign minister, Anita Anand, said after the midterm elections that Ottawa hopes for progress, noting that workers in those sectors are losing jobs ¹.

We’re talking about just a week or so out of these elections, and Canada very much hopes that we will have progress on the trade front.

Canada adjusts its own tariffs

On November 9, Canada extended until June 30, 2028 a program that lets businesses avoid some retaliatory tariffs on American goods that are hard to find in Canada. It is also ending relief on goods that Canadian firms can supply. Certain U.S.-made trailers lose relief December 1, and some aluminum wire, extrusions and paperboard products lose it February 1, 2027 ¹.

Canada assessed $10 billion in tariffs on American goods from March 2025 through October 26, 2026. About $6.30 billion was relieved or omitted, leaving $3.7 billion in net revenue ¹.

Why it matters

The pattern is that a close U.S. trading partner is building other options while its tariff fight with Washington continues. Canada wants to increase exports to China by another 50 percent by 2030 ¹. Champagne said that every G7 country, meaning the group of seven large advanced economies, has a strategic relationship with China ¹.

For American households, the open question is whether the tariffs on lumber, steel, aluminum and cars change. Those materials go into homes and vehicles. No U.S. deal has been announced ¹.

The Record

1. Jan 1, 2026Carney and Chinese President Xi Jinping announced a renewed strategic partnership during Carney's January visit to Beijing ¹.
2. Nov 6, 2026China's Foreign Ministry announced a Canada-China economic and financial dialogue for November 9 in Canada ².
3. Nov 9, 2026Canada and China announced three financial agreements and extended a trade deal to the end of 2028 ¹.

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<h2>Canada signs China deals as U.S. tariff talks drag on over lumber, steel and autos</h2> <p><em>By The GOP Files Kitchen-Table Desk. This article first appeared on <a href="https://thegopfiles.com/story/canada-signs-china-deals-as-u-s-tariff-talks-drag-on-over-lumber-steel-and-autos">The GOP Files</a> on Tuesday, November 10, 2026.</em></p> <p>Canada signed new economic agreements with China late Monday, as Ottawa tries to ease trade tensions with Washington, Newsweek reported. The deals followed talks in Vancouver. Prime Minister Mark Carney is preparing to travel to Shenzhen, China, for a summit of Asia-Pacific economies .</p> <p>China&#39;s Foreign Ministry had announced that its vice premier, He Lifeng, would co-chair a Canada-China economic and financial dialogue in Canada on November 9 . Canada&#39;s finance minister, François-Philippe Champagne, and trade minister, Maninder Sidhu, hosted him .</p> <h2>What Canada and China agreed</h2> <p>The talks produced three agreements. They cover cooperation among the two countries&#39; finance ministries, financial regulators and central banks. Both sides also welcomed progress on a currency-swap arrangement and agreed to pursue greater access to each other&#39;s financial-services markets .</p> <p>The two countries also agreed to extend an existing trade deal until the end of 2028. China will keep charging lower tariffs on Canadian canola meal, peas, lobster and crab. Canada will keep letting certain Chinese steel and aluminum products in without extra tariffs .</p> <p>Newsweek reported that Canadian canola meal exports to China more than doubled, from $104 million to $277 million, after China eased its tariff. Goods trade between the two countries reached $89 billion last year .</p> <h2>Where the U.S. talks stand</h2> <p>Carney said Washington withdrew a proposal that would have given the United States final approval over Canada&#39;s trade agreements with other countries. Newsweek reported that Washington dropped that demand last week, along with others on language and culture .</p> <p>That does not mean a deal is near. President Donald Trump has said a deal with Canada is close, but Newsweek reported that significant differences remain. A Canadian government official told the outlet that progress is slow and there is &quot;still a way to go before we see any deal.&quot;</p> <p>Tariffs on lumber, steel, aluminum and automobiles remain central sources of tension . Canada&#39;s foreign minister, Anita Anand, said after the midterm elections that Ottawa hopes for progress, noting that workers in those sectors are losing jobs .</p> <blockquote><p>We’re talking about just a week or so out of these elections, and Canada very much hopes that we will have progress on the trade front.</p><p>&mdash; Anita Anand, Foreign Minister of Canada</p></blockquote> <h2>Canada adjusts its own tariffs</h2> <p>On November 9, Canada extended until June 30, 2028 a program that lets businesses avoid some retaliatory tariffs on American goods that are hard to find in Canada. It is also ending relief on goods that Canadian firms can supply. Certain U.S.-made trailers lose relief December 1, and some aluminum wire, extrusions and paperboard products lose it February 1, 2027 .</p> <p>Canada assessed $10 billion in tariffs on American goods from March 2025 through October 26, 2026. About $6.30 billion was relieved or omitted, leaving $3.7 billion in net revenue .</p> <h2>Why it matters</h2> <p>The pattern is that a close U.S. trading partner is building other options while its tariff fight with Washington continues. Canada wants to increase exports to China by another 50 percent by 2030 . Champagne said that every G7 country, meaning the group of seven large advanced economies, has a strategic relationship with China .</p> <p>For American households, the open question is whether the tariffs on lumber, steel, aluminum and cars change. Those materials go into homes and vehicles. No U.S. deal has been announced .</p> <p><em>Read the original, with every source linked, at <a href="https://thegopfiles.com/story/canada-signs-china-deals-as-u-s-tariff-talks-drag-on-over-lumber-steel-and-autos">thegopfiles.com</a>. Republished under The GOP Files' <a href="https://thegopfiles.com/republish">free republishing terms</a>.</em></p> <img src="https://thegopfiles.com/api/rp/canada-signs-china-deals-as-u-s-tariff-talks-drag-on-over-lumber-steel-and-autos.gif" alt="" width="1" height="1" style="border:0;width:1px;height:1px">

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Sources

1. Newsweek, “Canada Signs New Deals With China After Trump Drops Trade Demand” (2026-11-10). newsweek.com/canada-deal-china-donald-trump-drops-trade-dema
2. China Ministry of Foreign Affairs, “Announcement on the second China-Canada Economic and Financial Strategic Dialogue” (2026-11-06). mfa.gov.cn/mfa_eng/xw/wsrc/202611/t20261106_12054689.html

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