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Is Chinese EVs' Path into North America Going to Start with Canada? [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
However, some domestic automakers and politicians are sounding warnings. Last month, Canadian prime minister Mark Carney announced an economic deal with China, one that would see tariffs on various export goods reduced or dropped entirely. For the Canadians, the real economic impact was the reduction of tariffs on its vast canola seed crop (the "can" in "canola" literally stands for Canada) from a punishing 85 percent to just 15 percent. What's grabbed the attention of the automotive industry, however, was the announcement that, in a reciprocal move, Canada would be lowering the levy on Chinese EVs from 100 to 6.1 percent. For the latter, there are some notable restrictions. The amount of Chinese EVs eligible for the reduced tariff is 49,000 per year, a drop in the bucket in the Canada market. Last year, just under two million new cars found homes in Canada, meaning that the exemption for Chinese EVs represents roughly 3 percent of the market. By 2030, there will be price caps on
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