China’s Ministry of Commerce announced on Tuesday that a preliminary 75.8 per cent duty on Canadian canola seed would go into effect on Thursday, sending canola futures on the Intercontinental Exchange down as much as 6.5 per cent.

The United States and China have announced to extend the suspension of 24 percentage points of reciprocal tariffs on each other's goods for another 90 days, starting August 12, 2025, in a move seen as an effort to stabilise strained economic ties between the world's two largest economies.

U.S. President Donald Trump announced on Truth Social that he has signed an executive order extending the tariff suspension on Chinese goods for an additional 90 days, confirming earlier reports of a pending decision,