Canada imposing 100% tariffs on Chinese-made EVs to protect trade

[JACK AYLMER]

FOLLOWING THE U-S AND E-U’S LEAD CANADA IS IMPOSING SIGNIFICANT TARIFFS ON CHINESE PRODUCTS.

PRIME MINISTER JUSTIN TRUDEAU ANNOUNCING CANADA WILL IMPOSE A 100 PERCENT TARIFF ON CHINESE-MADE ELECTRIC VEHICLES AND A 25 PERCENT TARIFF ON CHINESE ALUMINUM AND STEEL. 

THE MOVE PUTS CANADA IN LINE WITH THE UNITED STATES ON E-V TARIFFS IN AN EFFORT TO ENHANCE THE WEST’S COMPETITIVENESS WITH CHINA

THE VALUE OF CHINESE ELECTRIC VEHICLE IMPORTS IN CANADA SURGED IN 2023 TO TWO-POINT-TWO BILLION– UP FROM LESS THAN 100 MILLION THE YEAR BEFORE.

IN MAY, THE BIDEN ADMINISTRATION SLAPPED TARIFFS ON CHINESE EV-MAKERS, BATTERIES, SOLAR CELLS, STEEL, ALUMINUM AND MEDICAL EQUIPMENT.

BIDEN SAYS CHINA’S SUBSIDIES FOR EVS AND OTHER GOODS ENSURE CHINESE COMPANIES DON’T HAVE TO TURN A PROFIT– GIVING THEM AN UNFAIR ADVANTAGE IN GLOBAL TRADE. A SENTIMENT TRUDEAU ECHOED MONDAY.

[JUSTIN TRUDEAU]

BUT ACTORS LIKE CHINA, HAVE CHOSEN TO GIVE THEMSELVES AN UNFAIR ADVANTAGE IN THE GLOBAL MARKETPLACE COMPROMISING THE SECURITY OF OUR CRITICAL, CRITICAL INDUSTRIES AND DISPLACING DEDICATED CANADIAN AUTOS AND METAL WORKERS.

[JACK AYLMER]

THE DECISION BY CANADA COMES AFTER CONSULTATION THIS SUMMER ON HOW TO ADDRESS CHINA’S ALLEGED EFFORTS TO “OVERSUPPLY” THE GLOBAL MARKET.

CURRENTLY, NO CHINESE-BRANDED EVS ARE SOLD IN CANADA.

BUT THE COUNTRY’S TARIFFS AIM TO ADDRESS FUTURE CONCERNS ABOUT CHINESE EVS FLOODING THE MARKET.

FOR MORE ON THE TARIFFS ON CHINESE-MADE PRODUCTS AND INNOVATIONS IN GREEN TECH– DOWNLOAD THE STRAIGHT ARROW NEWS APP OR VISIT SAN DOT COM.

FOR STRAIGHT ARROW NEWS– I’M JACK AYLMER.