Become a logicalchat Member

Latest Post

Weekly Dividend Report: FedEx, Caterpillar, Oracle, Dell, and more Announce Payouts.

Weekly Dividend Report saw increased payouts from FedEx and Caterpillar, declarations from Oracle and Dell Technologies, and ex-dividend dates for UnitedHealth and Hewlett...

Your story starts here. Sign up and let's connect in ways that truly matter!

HomeBlogsCanada to Potentially Raise Tariffs on Chinese EVs, Trade Minister Reveals

Canada to Potentially Raise Tariffs on Chinese EVs, Trade Minister Reveals

Canada is considering raising tariffs on Chinese-made electric vehicles following the White House’s new levies, according to Trade Minister Mary Ng, who is in open dialogue with American partners.

Biden Administration Announces New Tariffs Against China

  • Biden administration imposes new tariffs on China, targeting semiconductors, solar cells, and other products.
  • U.S. tariff on Chinese-manufactured electric vehicles to be effective this year, increasing from 27.5%.
  • Canadians imposes a small tariff of about 6% on Chinese vehicles.
  • Canadian main focus is on domestic electric vehicle production, with agreements signed with automakers like Honda and Volkswagen.

Canada’s Auto Sector and US Imports

  • Canadian auto sector is highly interconnected with U.S. manufacturers.
  • Parts and finished cars flow easily across Ontario and Michigan and Ohio.
  • Chinese factories have a small share of Canadain auto market.
  • Tesla Inc.’s Model Y vehicles from Shanghai increased car arrivals by over fivefold at Vancouver port last year.


Must read book about investing – check here

Related Post