After imposing high tariffs on electric cars, the Chinese embassy in Canada threatened to retaliate. The 100 percent tariff will “harm trade and economic relations between China and Canada,” the report said.
The Canadian government is acting against the interests of its consumers and businesses, and the global fight against climate change will suffer.
The Canadian government had also previously announced tariffs on Chinese steel and aluminum products. This was intended to create a fair environment for local industries, Finance Minister Chrystia Freeland said. It was argued that Chinese manufacturers would benefit from, among other things, more relaxed standards for protecting workers and the environment, and from a government-imposed policy of overcapacity.
Dispute over trade practices with the EU
In May, the US government ordered additional tariffs of 100 percent on electric cars from China. The European Commission followed suit in June with its own plans, which however provide for varying tariffs of between 17.4 and 37.6 percent, depending on the manufacturer. In Brussels, among other things, there is talk about unfair subsidies for car manufacturers. There had previously been no agreement in the dispute over subsidies and trade practices.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
