Prime Minister Mark Carney says he has reached a deal with China to allow tens of thousands of Chinese electric vehicles into the country in exchange for lower canola duties.

He billed his first such trade deal since taking office as a preliminary one that would boost the economy.

Carney says Ottawa expects Beijing to drop canola seed duties to 15 per cent by March.

Canadian canola meal, lobsters, crabs and peas will no longer be subject to Chinese tariffs from March to at least the end of the year.

In return, Canada will allow up to 49,000 Chinese electric vehicles into the Canadian market at a 6.1 per cent tariff rate.

The pact comes just hours after Carney met with President Xi Jinping on a trip to Beijing, ending a multi-year trade dispute that began when the last Liberal government levied EV tariffs to protect Canada’s auto sector.

  • WizardGed@lemmy.caEnglish
    25·
    3 days ago

    I’m in one of the big cities affected by this in Ontario. I’ve got mixed feelings, but I think this may end up being for the better. With all the American manufacturers backsliding on their EV transitions and keeping their prices sky-high for whatever they do have—all while refusing to stand up to Trump in any meaningful way—now, they’ll have to compete or risk losing the market entirely. I still think we should do more and accept vehicle standards from other countries in our market, not just the American ones. This should lower vehicle costs and, in turn, insurance rates for affordable vehicles. It should also make it more economical to export products directly to China, rather than the current convoluted process of selling to intermediary countries that add minimal processing before re-exporting to China at a higher cost.