Canada cuts tariffs on Chinese EVs as part of new deal

Canada has agreed to drastically reduce its tariffs on imported Chinese EVs from 100 percent to 6.1 percent as part of a new deal between the two countries. In return, China will be reducing tariffs on Canadian canola seeds from 84 percent to about 15 percent.<br /> The move is a break from the United States, which maintains a 100 percent tariff on EVs from China, effectively banning them in the country. Mexico currently tariffs the vehicles at 50 percent after increasing its rate last year.<br /> Under the agreement, which Canadian Prime Minister Mark Carney called "preliminary," Canada will allow up to 49,000 Chinese EVs into the country, with that number rising to 70,000 after five years. Until now the three major North American trading partners had been aligned in [...]