Its a move that could exacerbate Trade Tensions between western countries and china. From october, canada will impose 100 tariffs on Electric Vehicles from china. This is on top of the most favoured nation tariff of 6. 1 already slapped on to chinese produced evs that are imported to canada. The government also intends to apply a 25 tariff on imports of steel and aluminium products from china. Canadas finance minister, chrystia freeland, said these measures were about protecting its domestic producers. The reality is china has an intentional, state directed policy of overcapacity and oversupply, designed designed to cripple our own industries. Talk to the steel sector, talk to the aluminium sector to understand how effective that has already been, and we simply will not allow that to happen to our ev sector. The auto tariffs bring canada in line with its southern neighbour. The us introduced 100 tariffs on chinese made evs back in may, whilst the eu is also imposing higher tariffs. It
Asks of you, as well, to accept short term pain for long term good, the difficult trade off for the genuine solution. And i know that after all that you have been through, that is a really big ask and really difficult to hear. That is not the position we should be in. Its not the position i want to be in, but we have to end the politics of the easy answer that solves nothing. Lets speak to our political correspondent, nick eardley, at westminster. What big asks is he talking about . That is the million question, and i think what was pretty clear from keir starmer is that the next few months are not going to be that much fun actually when it comes to government announcements. The most striking bit for me was when he said the budget is coming in october and it will be painful, those with the broadest shoulders will face the heaviest burden. Absolutely clear there will be some really unpopular announcements in that budget, perhaps around attacks, perhaps focus more on people with higher i
Live from new york, at the opening bell, this is business today. Traders tread water on wednesday. Cranking up the voltage on trade tensions. Canada slaps hefty import taxes on electric cars made in china older, wiser, and ready to spend. How businesses are finding a Silver Lining in indias ageing population. Welcome to business today, im Michelle Fleury live from new york. Us markets slip at the open after the record close. More on that any moment. Lets turn our attention to markets, the dow is down two tenths of a percent right now, after the wreck a close yesterday. The snp and nasdaq have not fared so well. Traders are turning away from the Technology Stocks right now. For more on this is the chief market strategist, great to see it this morning. Are you surprised this rally is stalling . What should we read from the dow slipping back slightly . Read from the dow slipping back sliuhtl . ,. , slightly . Good morning, i dont think they slightly . Good morning, i dont think they can
A sweeping majority for president Maduro Socialist Party in venezuelas Congressional Elections the opposition has called the vote a fraud. Millions of people across the u. S. State of california are preparing for harsh new coronavirus lockdown rules to come into effect in under an hour the stay at home order places restrictions on the opening of restaurants say in stores while also limiting gatherings the measures are being implemented as the state reported its highest ever number of infections more than 30000 in a single day their fears some hospitals could run out of i. C. U. Beds now the virus is now killing more than 2000 americans a day thats 2 people every minute they hope that the food and Drug Administration will approve a vaccine soon but it will still take months for it to be fully rolled out castro has more from washington. New walk downs are being put in place in a number of regions amid the ongoing surge in Infections Health officials are considering ending even Outdoor Di
In the next 30 minutes a low turnout as polls close in venezuelas general election which the opposition has dismissed as a fraud and crunch time for brett sick talks the e. U. And the u. K. Push for a trade deal to prevent chaos at the borders next year. Welcome to the program millions of people across the u. S. State of california harbor pairing for harsh new lockdown rules to come into place in the next few hours the stay at home borders places restrictions on the opening of restaurants salads and stalls while also limiting gatherings the measures come in as the state reported its highest ever number of infections more than 30000 in a single day the recent surge in infections and prompting fears some hospitals could run out of i. C. U. Beds while covert 19 is now killing more than 2000 people a day in the u. S. Health officials are hoping the approval of a new vaccine will happen quickly the food and Drug Administration is set to meet on thursday to review it how did you castro how s