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.

    • SamuelRJankis@sh.itjust.worksEnglish
      3·
      8 hours ago

      There’s been a lot of noise the last few years about there being big demand for these EV’s so we’ll see how true this is. I do have a inclination they’ll do rather well even with the economy and low gas prices.

      • sbv@sh.itjust.worksEnglish
        4·
        7 hours ago

        There are headwinds: EV incentives are being removed, electricity prices are climbing, and there’s the cultural antipathy towards climate action from the US.

        Here’s hoping it still works out tho.

      • digitalFatteh@lemmy.caEnglish
        3·
        7 hours ago

        I hope so. My province has practically shut down the EV and solar panel incentives and as you say the incoming belt tightening on the economy make this look like it’s getting setup to fail.