🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

China targets Canada's tariffs with anti-discriminatory probe

Published 09/26/2024, 12:21 AM
Updated 09/26/2024, 12:25 AM
© Reuters. FILE PHOTO: Workers assemble an EV car inside BYD's first electric vehicle (EV) factory in Southeast Asia, a fast-growing regional EV market where it has become the dominant player, in Rayong, Thailand, July 4, 2024. REUTERS/Chalinee Thirasupa/File Photo
RSc1
-

BEIJING (Reuters) -China has launched an anti-discriminatory investigation against restrictive measures taken by Canada including additional tariffs on Chinese electric vehicles, steel and aluminum products, its commerce ministry said on Thursday.

This type of investigation usually takes three months to complete but could be extended under special circumstances, the ministry said.

Beijing also announced plans this month to probe Canadian canola imports after Ottawa joined the U.S. and the European Union in putting in place tariffs of 100% on Chinese EVs and 25% on Chinese aluminum and steel.

More than half of canola exported by Canada makes its way to China, the world's biggest oilseed importer.

© Reuters. FILE PHOTO: Workers assemble an EV car inside BYD's first electric vehicle (EV) factory in Southeast Asia, a fast-growing regional EV market where it has become the dominant player, in Rayong, Thailand, July 4, 2024. REUTERS/Chalinee Thirasupa/File Photo

China said it strongly deplored and firmly opposed Canada's "discriminatory unilateral restrictive measures" and it had requested talks with Canada at the World Trade Organization about the tariffs.

Trade friction between the countries heightened this week after Canada said it was "absolutely" considering banning Chinese-made software in EVs, among measures to counter what it calls overcapacity and a security threat.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.