Canada's tariffs on Chinese-made EVs, aluminum, steel to bring C$473 million increase in federal revenues
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Update time : 2024-12-09 19:25:01
Canada's tariffs on Chinese electric vehicles, aluminum, and steel are expected to increase federal revenues by C$473 million over five years, said the parliamentary budget officer (PBO).
Starting in October, the tariff on Chinese-made electric vehicles will reach 100%, and that on steel and aluminum will be 25%.
The federal government said the move was in response to China's unfair trade practices and low standards of environmental and labor conditions and in response to pressure from auto, steel, and aluminum industry groups to follow US tariffs.
The PBO estimated that tariffs would halve related imports.
