Global News on Nostr: Why U.S. tariffs on Chinese EVs could be a ‘tightrope’ walk for Canada ========== ...
Why U.S. tariffs on Chinese EVs could be a ‘tightrope’ walk for Canada
==========
The U.S. has imposed massive new tariffs on Chinese-made EVs, and some experts argue that a similar tariff may not make sense for Canada. Canada currently imposes a 6% tariff on Chinese-made vehicles, but the cars can qualify for up to $5,000 in federal rebates for EV purchases. Trudeau and other ministers haven't ruled out the possibility of similar tariffs, but economists say the decision is complex. Canada's context is different from the U.S., as China is Canada's second-largest trade partner, and a back-and-forth over EV tariffs could hurt Canada in other sectors. While Chinese-made EVs account for a small portion of the North American market, experts say that could change quickly. Allowing Chinese-made EVs into the market may mean lower prices for Canadian consumers, but it could also raise national security concerns over Chinese companies. By not following Washington, Ottawa risks inviting U.S. tariffs on Canada. Canada can still benefit from the global EV boom by using its abundance of critical minerals to create a supply chain that will find a global audience.
#UsTariffs #ChineseEvs #Canada #ElectricVehicles #Tariffs #Trade #JoeBiden #JustinTrudeau #Economists #NationalSecurity #CriticalMinerals
https://globalnews.ca/news/10527343/ev-tariffs-impact-canada/
==========
The U.S. has imposed massive new tariffs on Chinese-made EVs, and some experts argue that a similar tariff may not make sense for Canada. Canada currently imposes a 6% tariff on Chinese-made vehicles, but the cars can qualify for up to $5,000 in federal rebates for EV purchases. Trudeau and other ministers haven't ruled out the possibility of similar tariffs, but economists say the decision is complex. Canada's context is different from the U.S., as China is Canada's second-largest trade partner, and a back-and-forth over EV tariffs could hurt Canada in other sectors. While Chinese-made EVs account for a small portion of the North American market, experts say that could change quickly. Allowing Chinese-made EVs into the market may mean lower prices for Canadian consumers, but it could also raise national security concerns over Chinese companies. By not following Washington, Ottawa risks inviting U.S. tariffs on Canada. Canada can still benefit from the global EV boom by using its abundance of critical minerals to create a supply chain that will find a global audience.
#UsTariffs #ChineseEvs #Canada #ElectricVehicles #Tariffs #Trade #JoeBiden #JustinTrudeau #Economists #NationalSecurity #CriticalMinerals
https://globalnews.ca/news/10527343/ev-tariffs-impact-canada/