Canada considering tariffs on Chinese-made EVs
What concerns did the Global Times express about Canada's potential tariffs?
The Global Times expressed concerns that Canada's potential tariffs on Chinese EVs may undermine market confidence among Chinese investors, worsen bilateral relations, and hinder normal economic and trade cooperation. The article urged Canada to remain strategically rational and not to sacrifice normal economic exchanges with China for the sake of Washington's strategic selfishness.
What specific actions did US President Joe Biden take against Chinese imports?
President Joe Biden announced new tariffs on imports of electric vehicles, solar equipment, and batteries from China3. The tariffs will increase from 25% to 100% on electric vehicles, from 7.5% to 25% on lithium batteries, and from 25% to 50% on solar cells. Additionally, tariff rates on certain steel and aluminum products will more than triple to 25%, up from 7.5% or less.
What prompted Canada to consider tariffs on Chinese-made EVs?
Canada is considering tariffs on Chinese-made EVs due to concerns over unfair competition from China's state-directed policy of overcapacity, which undermines the Canadian EV sector's ability to compete in domestic and global markets. The move would align Canada with the US and EU, who have also raised concerns about China's EV industry.