Canada to slap 100% import tariffs on Chinese electric vehicles over 'unfair' competition
Canada on Monday said it is imposing a 100% tariff on China-made EV imports, as well as a 25% tariff on steel and aluminium imports from China.
https://www.cnbc.com/2024/08/27/canada-to-slap-100percent-import-tariffs-on-chinese-electric-vehicles.html
Canada's decision to impose 100% tariffs on Chinese electric vehicles, steel, and aluminum is a strong move to combat unfair competition and trade practices. The new measures aim to support Canadian industries and level the playing field globally. Similar actions by the U.S. and EU highlight concerns over China's overcapacity and unfair subsidies. While the tariffs may impact China's EV growth momentum, they are unlikely to eliminate it entirely. The Chinese Embassy expressed strong opposition to the move, citing violations of WTO rules and potential damage to trade relations. Canada's review of other critical industries demonstrates a commitment to protecting domestic markets and fostering fair competition.