Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Trump considers tax hike on Americans making $2.5...
GOP senators: Congress should vote on Trump’s potential...
White House highlights over $2B in savings from...
GOP talk on millionaire tax hike ‘makes no...
Trump’s first vice president urges his old boss...
Department of Justice opens criminal investigation into NY...
Trump claims ‘I don’t know her’ and ‘listened...
Rubio just got an additional job in Trump’s...
OpenAI’s Sam Altman thanks Sen John Fetterman for...
Former Supreme Court Justice David Souter dead at...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

China Files WTO Complaint Over Canada’s EV and Metal Tariffs

by admin September 10, 2024
September 10, 2024
China Files WTO Complaint Over Canada’s EV and Metal Tariffs

China has lodged a formal complaint with the World Trade Organization (WTO) in response to Canada’s recently announced tariffs on Chinese-made electric vehicles (EVs), as well as steel and aluminum.

Bloomberg reported on Friday (September 6) that China’s commerce ministry has called for Canada to reverse its decision to impose tariffs of up to 100 percent on EVs and 25 percent on steel and aluminum imports from China.

Beijing claims that these measures, which are set to take effect in October, constitute trade protectionism that violates international rules and distorts global supply chains.

The Trudeau administration announced the tariffs on August 26, citing the need to protect various industries in the country from what it believes are unfair trade practices from China. The EV tariffs, which will apply to various types of passenger vehicles, including hybrid cars, trucks and buses, are scheduled to begin on October 1.

Meanwhile, the 25 percent levy on Chinese steel and aluminum is set to start on October 15.

China’s WTO case against Canada marks its third this year after similar disputes with the US and the EU.

The Asian nation has also initiated an anti-dumping investigation into canola imports from Canada, raising concerns that trade tensions between the two countries may escalate further. The probe was announced last week by China’s commerce ministry, signaling that Beijing may take further retaliatory actions if the tariffs are not withdrawn.

Canada has defended the tariffs as necessary for maintaining a level playing field, particularly for its EV and metal sectors. Prime Minister Justin Trudeau has previously stated that China’s trade practices, including state-directed overproduction, have created market imbalances that undermine competition and threaten Canadian jobs.

The tariffs are intended to counteract the impact of Chinese subsidies and overcapacity in these industries.

As mentioned, the dispute between China and Canada is part of a broader trend of rising trade tensions between China and the west, driven in part by concerns over the rapid growth of Chinese exports in high-tech sectors.

The US, which implemented 100 percent tariffs on Chinese-made EVs in May, has imposed additional duties on goods related to EV production, including solar cells, semiconductors and lithium-ion batteries.

The EU also introduced new tariffs on Chinese EVs earlier this year, with rates ranging from 17.4 percent to 37.6 percent. These measures are aimed at reducing the market influence of low-cost Chinese vehicles.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Up to ~A$25 Million Capital Raise to Support Full Funding of HMW Phase 1
next post
Independents RFK Jr., Tulsi Gabbard to spin for Trump at debate, joining Vance and other Republicans

You may also like

Bitcoin Well Enables Lightning Network On The Bitcoin...

March 25, 2025

Riverside Resources: Project Generator with a Diversified Portfolio...

November 5, 2024

1844 Announces Addition of Mr. Andre Gauthier to...

August 28, 2024

New High Grade Gold Shoot at Ferke Project

March 17, 2025

West High YieldResources Ltd. Announces Proceeds from Exercise...

November 23, 2024

West High Yield (W.H.Y.) Resources Ltd. Announces First...

September 28, 2024

NextSource Materials Provides Molo Mine Update

August 7, 2024

Freegold Intersects 3.06 g/t Au over 42 Metres...

October 8, 2024

Spodumene Pegmatite Discovery at Esperança Project in Brazil...

November 18, 2024

Trident Royalties Announces Results of Court Meeting and...

July 27, 2024

Recent Posts

  • Trump considers tax hike on Americans making $2.5 million or more per year
  • GOP senators: Congress should vote on Trump’s potential Iran nuclear deal
  • White House highlights over $2B in savings from DEI cuts during Trump administration’s first 100 days
  • GOP talk on millionaire tax hike ‘makes no sense,’ Trump White House alum says
  • Trump’s first vice president urges his old boss against raising taxes on wealthy Americans

    Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (712)
    • Investing (2,058)
    • Politics (2,553)
    • Stock (4)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 Sightful Invest. All Rights Reserved.