Global Markets: Chinese ministry ‘dissatisfied’ with Canada

August 27, 2024

The Chinese Commerce Ministry said in a statement it was “strongly dissatisfied” with Canada’s plans to impose a 100 per cent tariff on Chinese electric vehicles, as well as a 25 per cent surcharge on Chinese steel and aluminum products announced on Monday. The ministry claimed the new measures violate rules laid out by the World Trade Organization and added it was “typical trade protectionism”. The ministry urged Canada to “immediately correct its wrong practices.” Canadian Deputy Prime Minister Chrystia Freeland said on Monday China has a state-directed policy of overcapacity and oversupply.

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