"The federal government is inviting a flood of cheap made-in-China electric vehicles without any real guarantee of equal or immediate investments in Canada's economy, auto sector or supply chain, Ford said in a statement issued shortly after news of the deal broke. Worse, by lowering tariffs on Chinese electric vehicles this lopsided deal risks closing the door on Canadian automakers to the American market, our largest export destination, which would hurt our economy and lead to job losses."
"Carney says he expects China to lower tariffs on Canadian canola to 15 per cent by March. China will also no longer slap tariffs on Canadian canola meal, lobsters, crab and peas from March until at least the end of 2026. In return, Canada will allow 49,000 Chinese electric vehicles into the market at a tariff rate of 6.1 per cent."
Canada and China reached a trade agreement that will see China lower tariffs on Canadian canola to 15 per cent by March and suspend tariffs on canola meal, lobsters, crab and peas through at least the end of 2026. In exchange, Canada will allow 49,000 Chinese electric vehicles into the domestic market at a 6.1 per cent tariff rate. The tariff reduction is expected to increase imports of lower-priced Chinese EVs, potentially disadvantaging Canadian automakers, risking access to the U.S. market, and threatening jobs. Proposed responses include urgent support for the auto sector, regulatory harmonization, scrapping the EV mandate, and eliminating federal fees that raise manufacturing costs.
Read at www.cbc.ca
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