Canada will impose a 25pct tariff on Chinese steel and aluminum imports starting October 15, Prime Minister Justin Trudeau announced. China is the third-largest source of steel imports into Canada, according to the Canadian Steel Producers Association.
In addition, Canada will introduce a 100pct tariff on Chinese electric vehicles (EVs) starting October 1, up from the current 6.1pct tariff.
Trudeau stated that these measures are in response to the Chinese government’s subsidies for EVs, steel, and aluminum production, which have resulted in market flooding and undercutting of Canadian and U.S. industries.
