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Reading: Canada imposes a 100% tariff on electric vehicles made in China.
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Baner Club > Blog > Business > Canada imposes a 100% tariff on electric vehicles made in China.
Business

Canada imposes a 100% tariff on electric vehicles made in China.

After the US and EU made similar statements, Canada said it would slap a 100% tariff on imports of electric vehicles (EVs) built in China.

Last updated: 2024/08/27 at 8:41 AM
Published August 27, 2024
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The nation also intends to charge Chinese steel and aluminum 25% more.
China is accused by Canada and its Western allies of providing unfair vehicle makers with an unfair edge by subsidizing the EV industry.
The action “violates World Trade Organization rules” and is referred to as “trade protectionism” by China.
Canadian Prime Minister Justin Trudeau stated, “We are transforming Canada’s automotive sector to be a global leader in building the vehicles of tomorrow, but actors like China have chosen to give themselves an unfair advantage in the global marketplace.”

Canada is scheduled to impose tariffs on Chinese electric vehicles (EVs) on October 1st, and steel and aluminum tariffs on October 15th.
The acts of Canada, according to a spokesman for the Chinese Commerce Ministry, “seriously undermine the global economic system, and economic and trade rules”.

“China urges the Canadian side to immediately correct its erroneous practices,” they stated.

After the United States, China is Canada’s second-biggest trading partner.

The US said in May that it will increase taxes on Chinese electric vehicle imports by four times to 100%.

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admin August 27, 2024 August 27, 2024
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