Prime Minister Mark Carney, speaking in Beijing on Friday after reaching an initial deal with China across several sectors, said Canada stands up for human rights and democracy but added that Canada engages in what he called 'value-based realism' and takes the 'world as it is, not as we wish it to be.'

Jeff Mahon, Director of International Business and Geopolitical Advisory at StrategyCorp, discusses the recent reset in China-Canada relations – and why Canada has been put in a position to develop a more pragmatic approach with China.

BEIJING, Jan 16 (Reuters) - Canada and China struck an initial trade deal on Friday that will slash tariffs on electric vehicles and canola, as both nations promised to tear down trade barriers while forging new strategic ties during Prime Minister Mark Carney's visit.

China responded by imposing duties of 100% on Canadian canola oil and meal and 25% on pork and seafood. It added a 75.8% tariff on canola seeds last August. Collectively, the import taxes effectively closed the Chinese market to Canadian canola exports, an industry group said.

China will in turn cut its own tariffs on Canadian canola products, Prime Minister Mark Carney of Canada said in Beijing on Friday.

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.

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

Canola oil and electric cars are at the centre of the deal agreed by Mark Carney and Xi Jinping after years of strained ties.