Good morning. In a major break with its North American neighbors, Canada is slashing its tariffs on Chinese electric vehicles. On an official visit to Beijing, Canadian Prime Minister Mark Carney announced that Canada would allow nearly 50,000 Chinese EV imports with a tariff of just 6.1 percent,
down from 100 percent — in exchange for reductions in Beijing’s tariffs on Canadian canola and other products. Carney went on to describe Canada’s partnership with China as “set up well for the new world order” following talks with Xi Jinping.
Back in October, we analyzed what it would mean for Canada to make this big break. “North America has become a fortress that will not permit Chinese cars,” Michael Dunne, chief executive officer at Dunne Insights, a China-focused automotive advisory, said at the time. “If Canada were to go in a different direction, it would be making a monumental call.”
You can read our piece
here: