Canada, following US lead, to impose 100% tariff on Chinese EVs

Akash Sriram - Reuters - 26/08
Canada, following the lead of the United States, on Monday said it would impose a 100% tariff on the import of Chinese electric vehicles and also announced a 25% tariff on imported steel and aluminum from China.
  • Canada to impose 100% tariffs on Chinese-made EVs
  • Canada also announces 25% tariff on Chinese steel
  • PM Trudeau says more punitive measures possible
  • Tesla shares down over 3% after announcement
  • Announcement follows similar move from United States
OTTAWA, Aug 26 (Reuters) - Canada, following the lead of the United States, on Monday said it would impose a 100% tariff on the import of Chinese electric vehicles and also announced a 25% tariff on imported steel and aluminum from China.
Prime Minister Justin Trudeau said Ottawa was acting to counter what he called China's intentional, state-directed policy of over-capacity. But he did not specify if tariffs will be softened or will be the same on Tesla (TSLA.O), opens new tab, whose shares were down over 3% on Monday after the announcement.
"I think we all know that China is not playing by the same rules," he told reporters. The tariffs will be imposed starting Oct. 1 this year.
"What is important about this is we're doing it in alignment and in parallel with other economies around the world," Trudeau said on the sidelines of a three-day closed-door cabinet meeting in Halifax, Nova Scotia.
The Chinese embassy in Ottawa was not immediately available for comment.
Ottawa will continue to work with the United States and other allies to ensure that customers around the world are not unfairly penalized by non market practices of countries such as China, Trudeau said.
Ottawa is also looking at further punitive measures such as tariffs on chips and solar cells, Trudeau said, without giving any details.
U.S. President Joe Biden in ...
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