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
of which are linked to inflation. let s put this into perspective because the uk s national debt is at record levels. it owes £2.69 trillion. that is almost the size of the uk economy the so called debt to gdp ratio is around 97.7%. that is a useful guide to how affordable the debt is for a country. the chancellor has pledged to get that ratio down. the uk s far better off than some of its neighbours though italy s debt to gdp is around 140%. but if we look at germany s that s only around 65%. let s get more on this from our chief economics correspondent, dharshini david. she s in the bbc business newsroom here in london. hi. first off, what is behind that figure? hi. first off, what is behind that fiuure? , ., ., ., ., ., hi. first off, what is behind that fiuure? , ., ., ., ., y figure? just one month out of a 12 month financial figure? just one month out of a 12 month financial year figure? just one month out of a 12 month financial year but - figure? just one
as you ve been hearing, leaders of seven of the world s top economies are meeting in the city of hiroshima. but it s the two that aren t attending that will be talked about the most. as well as new sanctions on russia they ll be focusing on china and how to counter its increasing economic power. as the bbc s nick marsh in hiroshima explains. the g7 kicked off and the two biggest issues on the agenda are a war in ukraine and the economic containment of china. on that first subject the us got off to a quick start before the summit had even begun. they announced a fresh batch of sanctions targeting russia and its ability to source battlefield materials. they are also trying to tighten the ability of russia to use third country loopholes to evade those sanctions. britain as well has announced a ban on the importation of russian diamonds, of copper, nickel, aluminium as well that comes from russia. these are the actions of individual countries. the real challenge will be when ther
ten people are now confirmed to have died, after a huge explosion at a petrol station in county donegal in ireland. a search operation is continuing as some people are still thought to be missing, eight people were also taken to hospital. police say the cause remains under investigation but are describing what happened as a tragic accident . the explosion happened at an applegreen service station in the village of creeslough. from there, our ireland correspondent chris page reports. a rescue effort has now become a recovery operation, a sad sign that the emergency services don t expect to find anyone else alive. blown out walls, a crumpled roof, and tonnes of rubble showed this was a lethal explosion. the blast triggered a wave of devastation and desperation. local people hurried to what was left of the petrol station to see who amongst their friends and relatives may have been caught up in the incident. there were several flats above the garage shop which largely collapse
and how the rock band coldplay is offering its support to protesters in iran. it s official the left of centre politician, luis inacio lula da silva, commonly known as lula , has won brazil s presidential election snatching victory by a tiny margin from the rightwing incumbent, jair bolsonaro, who had an early lead as the first votes came in. the final tally was just 50.8% to lula. crowds of mr lula s supporters started celebrating in the streets. this represents an amazing comeback for the former president, who three years ago, was serving a prison sentence for corruption his conviction was later overturned. but the contest reflected how deeply polarised brazil is. mr lula spoke after the win was announced. translation: i have faith in god that with the help l of the people we will find a way out so this country may live again democratically, harmoniously, and we can even re establish peace between families. today, we are telling the world that brazil is back, that br