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Canada Imposes 100% Tariff on Chinese EVs Insight

Last Update 27 August 2024

Canadian Prime Minister Justin Trudeau announced a 100% tariff on Chinese-made Electric Vehicles and a 25% tariff on Chinese steel and aluminum. This move aligns Canada with the US and EU in response to perceived unfair practices by China. Beijing criticized the tariffs as protectionist and warned of potential retaliation, affecting trade and green transitions.

Also Read The Times of India

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Canada’s move to impose 100% tariffs on Chinese electric vehicles (EVs) and a 25% surtax on Chinese steel and aluminum aims to protect its domestic industries and address broader trade issues. By implementing these tariffs, Canada seeks to shield its auto manufacturers from perceived unfair competition due to Chinese state subsidies and overproduction. This move could disrupt global supply chains, affecting industries dependent on these materials and potentially leading to higher costs and production adjustments worldwide. For Indian EV manufacturers, this creates new opportunities to enter the Canadian market, benefiting from reduced competition if they meet Canadian standards. Additionally, if Canadian tariffs on Chinese steel and aluminum cause a global shortage, India might see increased demand for its exports, potentially gaining from higher prices and a larger market share. Additionally, as Western countries implement protective measures, India has the opportunity to enhance its trade relations with China, positioning itself as a key partner in sectors such as EV components and technology, potentially at a competitive cost.

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