Canada government mulls over replicating US tariff plans on Chinese aluminium, steel and EVs
According to a recent report, the Canadian government is contemplating replicating the United States tariff plans on electric vehicles, aluminium, and steel imported from China. The news came on August 26 after the Toronto Star, a Canadian English-language broadsheet daily newspaper, reported about the Canadian government's plan.
As per the report, the government plans to implement a 100 per cent tariff on China-origin electric vehicles and 25 per cent on aluminium and steel, following Washington's increased tariffs on Chinese electric cars from 25 per cent to 100 per cent, coming into effect on August 1, 2024.
In May 2024, Joe Biden's administration announced the increase of tariffs on Chinese goods, including electric vehicles, semiconductors, and minerals, aiming to protect the domestic American market from China's unfair trade practices.
Similarly, Canada plans to increase tariffs on Chinese goods to safeguard domestic industries from a cheap influx of imported materials and uncompetitive prices.
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