Ottawa, March 5 -- China has suspended and reduced tariffs on key Canadian agricultural and seafood exports, while Canada has eased trade restrictions on Chinese electric vehicles and certain steel and aluminum products.

The measures support Ottawa's goal of increasing exports to China by 50% by 2030 as part of a broader trade diversification strategy, according to a statement.

China has also resumed beef market access for 20 registered Canadian meat establishments as of January 15. Before beef imports were suspended, Canadian exports to China were valued at $193 million in 2021.

Canada eases EV and metal tariffs

As part of reciprocal measures, Canada implemented an annual quota of 49,000 Chinese electric vehicles at the most-favoured...