There’s a quota on these imports, it’s capped at 49k vehicles which isn’t enough to immediately destroy the local car industry. Beyond 49k I think the 150 percent tariff will still apply. Carney is slow playing this. Probably wanted this limited deal with China done so that it’s a bargaining chip in the upcoming trade negotiations with the US.
Of course China knows all of that so it’s interesting that they’re playing ball.
There’s a quota on these imports, it’s capped at 49k vehicles which isn’t enough to immediately destroy the local car industry. Beyond 49k I think the 150 percent tariff will still apply. Carney is slow playing this. Probably wanted this limited deal with China done so that it’s a bargaining chip in the upcoming trade negotiations with the US.
Of course China knows all of that so it’s interesting that they’re playing ball.