China will in turn cut its own tariffs on Canadian canola products. The countries’ leaders met in Beijing on Friday and hailed a new strategic partnership.

Canadian Prime Minister Mark Carney hailed a new “strategic partnership” with China during a meeting with leader Xi Jinping Friday, as the US ally took steps to reset ties with Beijing in the face of historic friction with Donald Trump.

Canadian PM Mark Carney announces landmark trade agreement with Beijing that would slash Chinese tariffs on Canadian farm goods and allow nearly 50,000 Chinese electric vehicles into Canada at preferential rates,

Leaders reaffirmed the principles and policies that have guided Canada-China relations. Canada reaffirmed its long-standing commitment to its One China policy. The two sides committed to advancing the Canada-China new Strategic Partnership in the spirit of mutual respect,

Canada was one of the first Western countries to recognize communist China, establishing ties in 1970 under Prime Minister Pierre Trudeau

Canada and China have struck an initial trade deal to cut tariffs on electric vehicles and canola, Prime Minister Mark Carney said on Friday, as both nations promised to tear down trade barriers while forging new strategic ties.

Hodgson also said Canada is open to more Chinese investment in its energy projects, noting that an arm of China National Petroleum Corp. has a sizable stake in the massive LNG Canada export terminal, and other Chinese firms have holdings in Alberta’s oilsands.