The Big Number: 100 Percent

Published On Aug 30, 2024, 1:00 PM

The Canadian government has announced a 100% tariff on electric vehicles from China, effective in October. This decision is part of a growing trend among Western countries, including the U.S. and the EU, to protect their domestic automotive industries from Chinese competition, which is bolstered by heavy government subsidies in China. Critics argue that these tariffs could limit the availability of affordable electric vehicles (EVs) for Canadian consumers, potentially hindering the transition to cleaner energy by reducing competition and increasing prices.