(Bloomberg) -- Canada will impose new tariffs on Chinese-made electric vehicles, aluminum and steel, lining up behind western allies and taking steps to...
-- Canada will impose new tariffs on Chinese-made electric vehicles , aluminum and steel, lining up behind western allies and taking steps to protect domestic manufacturers.With Housing Costs High, Democrats Hone YIMBY Message
Finance Minister Chrystia Freeland, the most powerful person in Trudeau’s cabinet, has been one of the most prominent voices in favor of a harder approach to Chinese vehicle exports, and becoming a closer trade ally with the US. Products made by SAIC Motor Corp. face additional duties of 36.3%, while Geely Automobile Holdings Ltd. and BYD Co. each face tariffs of 19.3% and 17%, respectively, according to a draft decision released last week. Tesla Inc. will see an extra 9% charge on Chinese-made vehicles.
The value of Chinese electric vehicles imported by Canada surged to C$2.2 billion last year, from less than C$100 million in 2022, according to data from Statistics Canada. The number of cars arriving from China at the port of Vancouver jumped after Tesla Inc. started shipping Model Y vehicles there from its Shanghai factory.
Steel and aluminum producers in Canada have also publicly and repeatedly urged the government to restrict China’s access, saying that Xi’s industrial policy allows the Asian powerhouse to unfairly flood foreign markets, putting local jobs at risk.
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