Canada plans to lower tariffs on electric vehicles from China.

Canada and China have finalized a trade agreement to lower tariffs on China-made electric vehicles (EVs) in exchange for reduced duties on Canadian exports. Canada will allow 49,000 EVs annually at a 6.1% tariff, down from a previous 100% rate, with over half required to be affordable models. This agreement, following Prime Minister Carney's visit to China, aims to boost Canadian exports by 50% by 2030 and includes investments in clean technology and a reduction of tariffs on Canadian canola seed and other agricultural products, improving market access significantly.