On May 29, as reported by Bloomberg, a new agreement forged during Canadian Prime Minister Carney's January visit to China has paved the way for Chinese-manufactured electric vehicles to start entering the Canadian market. These vehicles represent the inaugural batch of imports under the freshly minted pact. Under the terms of this agreement, Canada is set to import up to 49,000 Chinese-made electric vehicles over a 12-month span, with a tariff rate hovering around 6.1%. Previously, Canada had slapped tariffs exceeding 100% on such imports, effectively erecting a trade barrier. The substantial tariff reduction signifies a pivotal milestone in the electric vehicle trade landscape between China and Canada.
