#auto-manufacturing

#auto-manufacturing

Electrek reports that a new trade agreement between Canada and China will allow 49,000 Chinese-made EVs into Canada each year, with a tariff rate of just 6.1%. To put that number into context, the publication Driving reports that 1.9 million new vehicles were sold in Canada last year. Canada's shift in policy will move them away from the tariff policies of the U.S. (where Chinese EVs are subject to a 100% tariff) and closer to those of other North American countries. That could have big implications for the industry; according to a recent article in Mexico News Daily, Chinese automobiles now make up around 20% of the cars, trucks and SUVs sold in the country in question. And while Canada is not as populous as Mexico, gaining access to North America's third-largest automotive market remains a big deal.