100% on electric vehicles, 25% on steel and aluminum – matching U.S. levels.
The Canadian Government will impose import tariffs on Chinese-made electric vehicles as well as steel and aluminum. According to Bloomberg, the levy on EVs will be 100 percent, with steel and aluminum receiving rates of 25 percent each. The measure follows a consultation on potential policy responses to supply chain fears and challenges launched in June. According to CBC, the punitive tariffs on EVs will apply from October 1, and those on steel and aluminum from October 15.
The rates would match similar tariffs imposed by neighboring United States in May (we reported). However, the U.S. tariffs hit a wider array of goods than the to-be-unveiled Canadian levies, such as semiconductors and solar products. The European Union also recently unveiled tariffs on Chinese-made EVs, albeit with lower rates (we reported). On separate occasions, U.S. President Joe Biden and EU Commission President Ursula von der Leyen spoke of Chinese goods “flooding” world markets through artificially low prices.
Photo: iStock/dbvirago
