07:38 AM EDT, 08/26/2024 (MT Newswires) -- Canada will impose new tariffs on Chinese-made electric vehicles, aluminum and steel, lining up behind western allies and taking steps to protect domestic manufacturers, Bloomberg News is reporting Monday.
The government plans to announce a 100% levy on electric cars and 25% on steel and aluminum, according to people familiar with the matter, speaking on condition they not be identified because the matter is still private. Prime Minister Justin Trudeau is expected to unveil the policy in Halifax, Nova Scotia, where he's gathered with the rest of his cabinet for a series of meetings about the economy and foreign relations.
(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)