Canadian Prime Minister Justin Trudeau announced a 100% tariff on Chinese electric vehicle imports, in line with U.S. measures aimed at stemming the flow of state-subsidized Chinese vehicles into North America. He also unveiled an additional 25% tax on steel and aluminum products from China. The additional tax on electric vehicles will take effect on Oct. 1 and will also include some hybrid passenger cars, trucks, buses and delivery trucks. “It will be in addition to the existing 6.1% tariff that applies to Chinese electric vehicles,” the government said in a news release. The aluminum and steel tariffs will take effect on Oct. 15.
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Economic newsAugust 26, 20241 min read