Trump's Tariffs Push Canada To Get Cozy With China On EVs [Yahoo! Finance]
NISSAN MOTOR LTD S/ADR (NSANY)
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Source: Yahoo! Finance
week, he addressed the media about negotiating a replacement to the USMCA (United States-Mexico-Canada Agreement) , which he implemented in his first term. During that press conference, Trump said , "We don't need Canada product." With statements like these, Canadians understandably began second-guessing some of their trade agreements. The same week Trump made these statements, and after months of demeaning our trading partners to the North, Canada signed an agreement to reduce tariffs on 50,000 Chinese EVs. During the waning months of the Biden presidency, the administration slapped Chinese EVs with a 100% tariff . The Canadians followed suit, with their own 100% tariffs on Chinese-made electric vehicles. The reasoning is pretty simple: Flooding the market with inexpensive EVs from China could hurt the domestic car manufacturing economy, which could lead to plant shutdowns and layoffs. Since every direct automotive job also creates seven to ten jobs in related sectors, there's some
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