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

Aug 26, 2024

Jack Aylmer Anchor

By Jack Aylmer (Anchor), Evan Hummel (Producer), Jack Henry (Video Editor)

Canada announced on Monday, Aug. 26, that it will be imposing a 100% tariff on Chinese-made electric vehicles and a 25% tariff on Chinese-made aluminum and steel. The move puts Canada in line with the U.S on EV tariffs in an effort to enhance the West’s competitiveness with China.

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The value of Chinese electric vehicles imported by Canada surged in 2023 to 2.2 billion, up from less than $100 million in 2022.

In May, the Biden administration added tariffs on Chinese EV-makers, batteries, solar cells, steel aluminum and medical equipment. President Joe Biden said that China’s subsidies for EVs and other goods ensure Chinese companies don’t have to turn a profit and gives them an unfair advantage in global trade, a sentiment echoed by Canadian Prime Minister Justin Trudeau on Monday.

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“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 Candian auto and metal workers,” Trudeau said.

The decision by Canada comes after a 30-day consultation this summer on how to best address China’s alleged efforts to “oversupply” the global market. Currently, no Chinese EVs are sold in Canada. However, the country’s tariffs aim to address future concerns over Chinese EVs flooding the Canadian market.

Tags: Canada, China, Economy, Electric Vehicle Batteries, Electric vehicles, Electricity, European Union, greenhouse gas emissions, Joe Biden, Justin Trudeau, United States

[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.