Another blow to Chinese-made electric vehicles from Canada: 100 percent customs duty to be applied
Following the tax hikes imposed by the US and the EU on electric cars imported from China, Canada has also taken action. The North American country plans to introduce a 100 percent tax on Chinese electric vehicles.
Canada plans to impose new customs duties on Chinese-made electric vehicles, aluminum, and steel. According to a Reuters report, the Canadian government intends to introduce a 100 percent tax on electric vehicles and a 25 percent tax on steel and aluminum. According to Bloomberg, Prime Minister Justin Trudeau is expected to announce this decision at a cabinet meeting.
Canada, an export-oriented economy largely dependent on trade with the US, is closely monitoring the Biden administration's moves to build a much higher tariff wall against China's electric vehicles, batteries, solar cells, steel, and other products.
Canada's automotive sector is largely integrated with its closest neighbor: the vast majority of its light vehicle production, which reached 1.5 million units last year, is exported to the US.
Finance Minister Chrystia Freeland, the most powerful figure in the Trudeau cabinet, has been one of the most prominent voices advocating for a tougher approach against China's vehicle exports and for becoming a closer trade ally with the US.
News Source: 12punto
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