In a significant move that diverges from its southern neighbor, Canada has announced a groundbreaking agreement with China. Prime Minister Mark Carney revealed on Friday that Canada will reduce its current 100% tariff on Chinese electric vehicles (EVs).
This strategic decision isn’t a unilateral one. It comes as part of a reciprocal deal where China has agreed to lower its tariffs on Canadian farm products. This arrangement highlights Canada’s independent approach to trade relations, especially concerning the burgeoning EV market and its crucial agricultural sector.
The agreement, announced from Beijing, marks a notable shift in international trade dynamics, potentially opening new avenues for Canadian farmers while making Chinese EVs more accessible in the Canadian market.
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