Canada follows US, imposes 100% tariff on EVs imported from China
Source: Al Jazeera
Canada follows US, imposes 100% tariff on EVs imported from China
Ottawa to work with allies to ensure customers around the world are not unfairly penalised by nonmarket practices of countries such as China, PM Trudeau says.
26 Aug 2024
Canada, following the lead of the United States, says it will impose a 100 percent tariff on Chinese electric vehicle (EV) imports and also announces a 25 percent tariff on imported steel and aluminum from China.
On Monday, Prime Minister Justin Trudeau said Ottawa was acting to counter what he called China’s intentional, state-directed policy of overcapacity. But he did not specify whether tariffs would be softened or would be the same on US-based Tesla, whose shares were down more than 3 percent on Monday after the announcement.
“I think we all know that China is not playing by the same rules,” he told reporters. The tariffs will be imposed starting October 1.
“What is important about this is we’re doing it in alignment and in parallel with other economies around the world,” Trudeau said on the sidelines of a three-day, closed-door cabinet meeting in Halifax, Nova Scotia.
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Read more: https://www.aljazeera.com/economy/2024/8/26/canada-follows-us-imposes-100-tariff-on-evs-imported-from-china
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