Bloomberg Daybreak: Asia Edition
Latest Moves on China EVs, A Focus on Economic Data
Jun 25, 2024
Bloomberg China correspondent discusses Canada's potential tariffs on Chinese EVs and global trade implications. Market performance, economic outlook, and investment strategies are covered, including shifts in market ratings for developed markets and analysis of Nvidia stock performance in the AI sector.
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Quick takeaways
- Canada explores tariffs on Chinese EVs due to labor and energy concerns.
- China negotiates to lift tariffs on European cars by leveraging trade relationships.
Deep dives
Canada Imposing Tariffs on Chinese EVs
Canada is considering imposing tariffs on Chinese electric vehicles (EVs) following the United States' stance on this issue. The move includes a 30-day consultation period before tariffs are potentially implemented, focusing on changes to the list of EVs eligible for federal incentives. The pressure to impose tariffs stems from concerns about labor standards and energy sources used by Chinese EV makers. However, the current presence of Chinese EVs in Canada is limited, mostly being Teslas rather than Chinese brands.
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