Canada Breaks With U.S. to Slash Tariffs on Some Chinese Electric Vehicles
The New York Times • • world
Key Points:
- Canada announced it will lower tariffs on up to 49,000 Chinese electric vehicles to 6.1 percent, down from 100 percent, signaling a shift away from previous U.S.-aligned trade policies.
- In return, China agreed to reduce tariffs on Canadian canola seed from about 85 percent to approximately 15 percent, providing relief to a key Canadian agricultural sector.
- The tariff adjustments were announced during Prime Minister Mark Carney's state visit to Beijing, where he and President Xi Jinping declared a new “strategic partnership” aimed at strengthening bilateral economic ties.
- China plans to make a significant investment in Canada's auto sector over the next three years as part of the agreement to lower electric vehicle tariffs.
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