'We're at an impasse' with China, says Canadian Finance Minister Morneau

"I can't say that I necessarily have a sense of optimism, because we're at an impasse. It's a difficult moment," he added.

China's cancellation of canola shipments from Canada also doesn't make sense, according to Morneau, adding that he's concerned Beijing could extend the same treatment to other products from his country. "I don't want to speculate on what might be next but we don't think that ... the stoppage of canola trade is really one that's done on grounds that make sense," he said.

"And of course we're concerned with the spectra of other products being either delayed at the border or in some way taken out of the trading relationship," the minister added. "This is a real concern."

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Source: CNBC - 🏆 12. / 72 Read more »