Canada to impose 100% tariffs on Chinese EVs
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 27 August 2024
⏱️ 7 minutes
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Summary
From the BBC World Service: Following the lead of the U.S. and the European Union, Canada says it will impose a 100% tariff on imports of Chinese electric vehicles and a 25% tariff on imported steel and aluminum from China. Plus, it’s estimated that there will be 350 million adults over 60 in India by 2050; so it’s no surprise that companies are increasingly looking to cash in on the silver economy’s substantial spending power.
Transcript
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| 0:00.0 | When it comes to Chinese tariffs Canada and the US are in the same lane. |
| 0:05.8 | Hello, this is the Marketplace Morning Report and we're live from the BBC World Service. |
| 0:10.4 | I'm Leanna Byrne. |
| 0:11.4 | Very good morning to you. |
| 0:12.4 | Canada says it's bringing in 100% tariffs on |
| 0:15.7 | imports of Chinese-made electric vehicles after similar announcements by the US and the |
| 0:20.7 | European Union. Its Prime Minister Justin Trudeau says he's doing it to |
| 0:24.4 | stimulate and protect EV production in his country. |
| 0:27.6 | We are transforming Canada's automotive sector to be a global leader in building the vehicles of tomorrow. |
| 0:36.2 | But actors like China have chosen to give themselves an unfair advantage in the global marketplace |
| 0:42.2 | compromising the security of our critical industries and |
| 0:45.4 | displacing dedicated Canadian autos and metal workers. |
| 0:49.6 | Justin Trudeau there and the BBC's Pierre Antoine Denny has more on this hello |
| 0:54.0 | Hello Leanna. |
| 0:55.0 | Pierre I'm just wondering why are they bringing in these tariffs now? |
| 0:59.0 | They are two layers to it. I think the first one is to try and play on the side of its southern neighbor, |
| 1:06.3 | the US, whom I remember these 100% terrorists being put by the administration not so long ago and this all ties in with |
| 1:15.9 | Jake Sullivan's visit to China they met Canadian diplomats over the weekend |
| 1:20.3 | talking about working together on this. |
| 1:23.2 | The Trudeau administration invested quite heavily into the EV sector in the last few years. |
| 1:27.9 | There are plans to build a battery plant so that they would be independent in the battery making and not having to import it from China |
| 1:35.9 | 125,000 jobs that are that are in the automotive sector in Canada. So it's it's very important |
... |
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