Canada agrees to cut 100% tariffs on Chinese EVs.
TheWkly Analysis
Canada will start by allowing up to 49,000 Chinese electric vehicles into the country at a 6.1% tariff rate, with the quota rising to 70,000 over five years. In exchange, China will lower tariffs on Canadian farm products—such as canola—from 84% to about 15%. The deal, struck during Prime Minister Mark Carney's visit to China this week, marks a divergence from US policy, which maintains 100% tariffs on Chinese EVs. Carney is the first Canadian prime minister to visit China since 2017.
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Key Entities
- • Canada - Country described as changing its tariff approach for Chinese EVs
- • China - Country described as lowering tariffs on Canadian farm products
- • Chinese electric vehicles - Product category tied to the new quota and tariff rate
- • Tariffs - Policy tool central to the reported agreement
- • Canola - Farm product specifically cited as benefiting from tariff reductions
- • Mark Carney - Canadian prime minister referenced as visiting China
- • United States - Country referenced as maintaining 100% tariffs on Chinese EVs
- • Quota system - Mechanism described for phased EV import limits over five years
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