Canada exploring higher tariffs on Chinese EVs, Bloomberg News reports [Yahoo! Finance Canada]
Tesla, Inc. (TSLA)
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Source: Yahoo! Finance Canada
"We are looking at this very carefully and we have an open dialogue with our American partners," Bloomberg quoted Ng as saying in a phone interview from Peru, where she is attending meetings of the Asia-Pacific Economic Cooperation forum. Canada's trade ministry and Ng's office did not immediately respond to a Reuters request for comment on the report. Canada's decision follows U.S. President Joe Biden's steep tariff increases on Chinese imports, including electric-vehicle (EV) batteries, computer chips and medical products earlier this week. China had immediately vowed retaliation. ADVERTISEMENT Biden will increase tariffs this year under Section 301 of the Trade Act of 1974 from 25% to 100% on EVs, bringing total duties to 102.5%. Tesla started listing China-made Model 3 and Model Y models for sale in Canada on its website last year. (Reporting by Juby Babu in Mexico City; Editing by Arun Koyyur)
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