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Canada and China Strike New Trade Deal Linking EVs and Canola

Prime Minister Mark Carney meets with President of China Xi Jinping at the Great Hall of the People in Beijing, China on Friday, Jan. 16, 2026.  Canada and China have reached a new tariff agreement that ties together two major sectors: electric vehicles and agricultural exports. The deal marks a notable shift in the countries’ economic relationship after years of tension. Under the arrangement, Canada will permit up to 49,000 Chinese-made electric vehicles to enter the market at the standard tariff rate. In return, China will reduce duties on Canadian canola seed to 15% by March and eliminate tariffs on canola meal, lobsters, crabs, and peas for the remainder of the year. Canadian officials describe the agreement as a pragmatic step toward stabilizing ties and expanding trade opportunities. The move could reshape Canada’s EV market by introducing more competitively priced Chinese models, while also restoring valuable access for Canadian farmers to one of their most important ...
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Market Optimism Grows Amid Tariff Relief and Earnings Reports

U.S. stock futures showed a modest rise in premarket trading as optimism grew over potential tariff relief in the automotive sector. The Trump administration signaled plans to ease tariffs on foreign auto parts, a move expected to alleviate pressure on domestic manufacturers and reduce trade tensions. This development has sparked hope among investors, contributing to the positive market sentiment.

Key earnings reports from major companies, including Coca-Cola and Spotify, are also in focus. While Coca-Cola surprised investors with better-than-expected earnings, Spotify's mixed results and cautious guidance led to a dip in its stock price. Additionally, General Motors delayed its earnings call to reflect potential tariff changes, adding to the anticipation.

Investors are closely monitoring economic data, including consumer confidence and job openings, as well as upcoming reports on GDP and nonfarm payrolls later in the week. With Big Tech giants like Apple, Amazon, and Microsoft set to release their quarterly results, the market is bracing for a busy and potentially pivotal week.

The S&P 500, Dow Jones Industrial Average, and Nasdaq futures all edged higher, reflecting cautious optimism as traders await further clarity on trade policies and corporate performance.

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