Snapshot 5:Tue, Aug 27, 2024 3:44:22 PM GMT last edited by Haakan

Canada hits China-made electric cars with 100% tariff

Published AUG 27 2024

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Above: On August 15, 2024, in Farnborough, England, the British Motor Show 2024 features the BYD Atto 3 all-electric EV at the Farnborough International Exhibition Centre. Image credit: John Keeble / Contributor / Getty Images News via Getty Images***PLEASE REPLACE WATERMARKED IMAGE***

The Spin

Implementing harsh taxes on Chinese-made EV imports is the appropriate course of action since China will flood the country with artificially cheap EVs and undercut the domestic EV manufacturing industry, jeopardizing Canadian jobs. Matching US tariffs on Chinese imports, including at least a 100% tariff on Chinese EVs, will protect billions of dollars in public money and foreign investments in Canada's auto manufacturing sector. Canadian jobs are at risk.

Global News

Imposing high import tariffs on Chinese-made EVs is trade protectionism and violates WTO regulations. The tariff would hurt companies from both nations, Canadian consumers, and Canada's green transition and climate change mitigation. Canada should remedy this mistake since it would gravely damage the global trade system. China will take all necessary measures to protect Chinese companies's legal rights and interests.

Global Times

Imposing high tariffs on Chinese EVs is not the right move for the environment. A 100% import tax on Chinese EVs will result in fewer affordable zero-emission cars, reduced competition, and increased climate pollution. A better move for Canada would be to consider adopting Europe's lower tariffs, ranging from 36% on cars from SAIC Motor, to 17% on BYDs, to 9% on Chinese-made Teslas.

Metaculus Prediction

There is a 50% chance the share of global light vehicles in 2025 will be 27,5% zero-emission vehicles, according to the Metaculus prediction community.