Canada is going to start importing Chinese EVs — will the US follow? [Verge, The]
BYD CO LTD UNSP/ADR (BYDDY)
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Source: Verge, The
Is the North American blockade on Chinese EVs softening? Today, Canadian Prime Minister Mark Carney announced a deal with China to slash tariffs on electric vehicles in exchange for lowering duties on canola products. Canada will initially allow up to 49,000 Chinese EVs at a 6.1 percent tariff, Carney said, though the exact timeline was unclear. The news comes a few days after President Donald Trump signaled a willingness to allow Chinese EVs in the US, despite his administration's ongoing trade war with China and long-standing concerns about the potential impact on domestic automakers in the US. At an event in Detroit, Trump said Chinese automakers would be welcome so long as they build factories in the US and hire American workers. China is the world's largest car market, and Chinese automakers sell more electric vehicles than practically every other nation combined. The country is particularly famous for cracking the code on extremely cheap EVs — the type that have eluded comp
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