On October 22, 2024, Canada will impose a 25% tariff rate on aluminum and steel for Chinese companies, while a 100% tariff rate on electric vehicles imported from China came into effect on October 1, 2024.
This decision is a deliberate step towards intensifying the trade confrontation with China, which uses low labor standards, lack of environmental protection, and oversupply-supportive trade policies to drive out its trade competitors and implement a strategy of global dominance.
China’s impact on the Canadian economy is particularly significant. Between 2001 and 2011 alone, competition from Chinese imports resulted in the loss of about 105,000 jobs in Canadian manufacturing. This trend continues as Canadian manufacturers struggle to compete with China’s lower production costs.
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