CANADA MOVE ON CHINA BEV PROTECTION TO PROTECT USD39 BILLION IN GOVERNMENT AUTO SECTOR SPENDING
August 23rd, 2024
The Canadian automobile industry has welcomed the planned imposition of Canada’s planned 100% tariffs on Chinese BEV imports, saying it will give the sector breathing space to set up a comprehensive BEV supply chain. This follows the Canadian and Ontario governments sinking Canadian dollars CAD52.5 billion (USD39 billion) into creating a mining-to-assembly BEV industry in Canada. The Canadian parliamentary budget officer said in June that CAD31.4 billion (USD23.3 billion) in federal and CAD21.1 billion (USD15.6 billion) in provincial spending had elicited ...
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