Trudeau announces 100% tariffs on Chinese EV imports
25% tariffs on steel and aluminum
Canada will match American tariffs on Chinese-made electric vehicles and on heavily subsidized Chinese steel and aluminum imports, Prime Minister Justin Trudeau announced on August 26th.
“Today, we’re taking yet another step to ensure that Canada is the country of choice to make the things that will drive the new 21st Century green economy. We’re listening to automakers. We’re listening to workers. Shortly, we will be introducing a 100% tariff on Chinese made electric vehicles and a 25% tariff on Chinese steel and aluminum,” Trudeau told media at a 9am press conference from the Liberal’s caucus retreat in Halifax, Nova Scotia.
According to the World Economic Forum (WEF) China produces over half of all EVs in the world. The WEF, and US President Joe Biden have warned about China’s potential to flood the EV market.
Flooding a market, or dumping, is when a country exports a product at a lower price than is sold within its borders. In this scenario, BYD, and its large inventory of cheaper EVs could lessen demand for domestic-made EVs, leading to a faltering EV job market.
