Loading ...Hot mic at G7 summit catches Carney defending Chinese EV deal to Trump
In January, Carney signed a deal with Beijing that would allow 49,000 Chinese-made EVs access to the Canadian market at a tariff rate of 6.1 per cent. Since 2024, Chinese-made EVs have been subject to a 100-per-cent tariff, in line with U.S. trade policy. The tariff quota agreement was made in exchange for lowered Chinese tariffs on Canadian canola and seafood exports and promises to provide affordable EV options for Canadian consumers.
The Canada-United-States-Trade-Agreement (CUSMA) is up for renewal, and the auto sector is likely to be central in some of those trade talks. The July 1 deadline to renew the deal for another 16 years is likely to pass without the three countries reaching an agreement. This means the trade pact will have 10 years left and will enter a phase of annual reviews.