US and Canada Adjust Tariffs with Taiwan and China; India Invests in Rare Earths - January 2026

Several nations are making strategic policy changes regarding trade and critical industries. China and Canada have announced significant tariffs relief following a meeting between Chinese leader Xi Jinping and Canadian Prime Minister Mark Carney. In a separate policy move, the US has agreed to reduce tariffs on goods from Taiwan to 15% in exchange for a significant investment pledge aimed at boosting domestic semiconductor production. Meanwhile, India has approved a 73-billion-rupee ($800m) plan to produce rare earth magnets. This initiative aims to reduce India's dependence on China, which currently controls over 90% of global rare earth processing, and achieve self-reliance in a component crucial for electric vehicles and smartphones.

News Coverage

Friday 4:24 PMCapital Business

China and Canada announce tariffs relief after a high-stakes meeting between Carney and Xi

China and Canada have announced significant tariffs relief following a high-stakes meeting between Chinese leader Xi Jinping and Canadian Prime Minister Mark Carney in Beijing, signaling a reset in their strained relationship.