After US And EU, Now Canada Considers Imposing Tariffs On Chinese EVs As Domestic Pressure Mounts: Report
Portfolio Pulse from Benzinga Neuro
Canada is considering imposing tariffs on Chinese-made electric vehicles, following similar actions by the U.S. and the EU. This move aims to address China's overproduction of EVs and protect domestic industries.
June 21, 2024 | 9:58 am
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BYD, a Chinese EV maker, could face new tariffs from Canada, adding to existing pressures from the U.S. and EU tariffs.
BYD is a major Chinese EV manufacturer and would be directly affected by new Canadian tariffs, similar to those imposed by the U.S. and EU. This could impact their market competitiveness and stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
BYD's ADR, BYDDY, could also be impacted by potential Canadian tariffs on Chinese EVs, following similar moves by the U.S. and EU.
BYDDY, as an ADR of BYD, would be similarly affected by new Canadian tariffs on Chinese EVs. This could influence its stock performance in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80