China Imposes Retaliatory Tariffs on Canadian Goods; Consumer Inflation Drops Below Zero

China's State Council Tariff Commission announced tariffs on Canadian goods, including a 100% tax on canola oil, canola meal, and peas, and a 25% tax on pork and seafood. These measures, set to take effect on March 20, are in response to Canada's tariffs on Chinese electric vehicles, steel, and aluminum implemented last fall. China's consumer price index (CPI) fell by 0.7% year-on-year, according to the National Bureau of Statistics on Sunday. This marks the first time in 13 months that consumer inflation has dropped below zero.