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From October 1, Canada plans to impose additional tariffs on Chinese products, not just electric vehicles. From October 15, new 25% taxes will also be imposed on steel and aluminum products. The European Union plans to significantly reduce its surcharges on Chinese electric vehicles.
Canada has announced a 100% tariff on Chinese-made electric vehicles. Canada’s prime minister said high government subsidies in the People’s Republic of China and overproduction of electric vehicles were forcing his government to act. Justin Trudeau Monday in Halifax, on Canada’s Atlantic coast. In addition to electric vehicles, an additional 25% tax will be imposed on steel and aluminum products.
Trudeau accused China – similar to Brussels recently – of “not playing by the same rules as other countries” in terms of environmental and social standards. The high tariffs are a response to Beijing’s “extraordinary threats”. Before Canada, the United States also imposed tariffs of up to 100%. The European Union also announced punitive tariffs, with tariffs significantly reduced to 36.3%.
In addition to the existing customs
Canada’s levy will be in addition to the existing 6.1% import tax and will take effect on October 1. It is understood that in addition to electric vehicles, certain hybrid cars, trucks, buses and delivery vehicles will also be affected. Special tariffs on aluminum and steel will take effect on October 15.
The EU tariffs will take effect by the end of October at the latest, for an initial period of five years. For large car manufacturers producing in China, such as BMW, Volkswagen and Tesla, the applicable surcharges are lower than the planned maximum rate of 36%. Beijing immediately issued a harsh criticism and warned of an “escalation of trade conflicts.” (American Psychological Association/AFP)
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