Canada PM Carney in Beijing for Trade Talks, Xi Meeting

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00:00Right, let's talk about visits, shall we?

00:04So, there we go.

00:06That's Mark Carney, Prime Minister, Canada.

00:08He has arrived in China.

00:09First state visit by a Canadian leader in eight years.

00:13He'll be meeting with Premier Li today.

00:15That's ahead of Friday's talks with President Xi.

00:17Stephen Engel, our Chief North Asian Correspondent, is with us out of Shanghai.

00:21Steve, what's at stake here?

00:22First meeting in many years.

00:25Yeah, that's right.

00:26And it's been a fairly frosty relationship over those eight years or thereabouts,

00:31especially through the Justin Trudeau period,

00:33because of him sort of aligning Canadian trade policy with that of the United States.

00:39There was some 100% tariff on Chinese EVs to protect the domestic market in Canada,

00:46as well as on aluminum and steel.

00:49Those are things that the Chinese would like to see,

00:52perhaps in some sort of agreement with Carney on this trip,

00:55to be removed or reduced,

00:58as well as, you know,

01:01the Canadians would like to see the tariffs that the Chinese have put on agricultural products from Canada,

01:09especially rapeseed, which is also known as canola,

01:12which is a key export by the Canadians to China.

01:16Actually, China is the number two export market for rapeseed.

01:19So that's been essentially dropped down to zero because of those tariffs the Chinese put in place.

01:25But I think the EV situation is one we're looking at as whether this can be a deal between Xi Jinping and Mark Carney

01:34that will be at their meeting tomorrow.

01:38And that's what pretty much we're all looking for.

01:40And it's, again, Mark Carney has said he wants to essentially reduce their reliance on the United States for their export of their products.

01:47In fact, he wants to essentially reduce or find other export markets,

01:54non-U.S. export markets doubling over the next decade, according to Mark Carney.

02:01And it seems like the Chinese have really been kind of rolling out the welcome mat for a lot of world leaders.

02:05We just had the South Korean president there.

02:08So Carney's not the only one.

02:09Why do you think Beijing is doing this?

02:11Well, they see an opportunity, no doubt, obviously, with the trade friction that was caused by the tariffs from the United States.

02:20Trump's tariffs starting in April has caused essentially a redrawing of the global trade map.

02:27And world leaders are seeing China as another destination, obviously, for their products.

02:32They also want to get more clarity on the levers of leverage, if you will, on rare earths that they've employed,

02:40not only with the United States, but now in punishment to Japan.

02:44So there's lots to be discussed.

02:46You're right.

02:46The South Korean president was here earlier this month.

02:49We have Mark Carney here now.

02:51We're going to soon get Keir Starmer from the U.K. arriving here in Beijing,

02:55followed by Friedrich Merz of the Chancellor of Germany.

02:58That's in addition to what we saw already late last year.

03:03The French president, Emmanuel Macron, was here last month.

03:06We also had Albanese of Australia here twice in 2025.

03:12So clearly they are rolling out, as you can see there at the Great Hall of the People,

03:16the red carpet for these world leaders.

03:18Lots to discuss, including, I would imagine, Friedrich Merz of Germany wants to discuss further,

03:24or the Chinese wants to discuss further with him this minimum price mechanism

03:29that the European Union is working out for Chinese EVs into the EU.

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