iNews

Canada made SHOCKING EV Deal with EU: BYE BYE Tesla!

In a dramatic shift in trade dynamics, Canada is exploring deeper economic ties with the European Union (EU) following escalating tensions with the United States over potential tariffs. U.S. President Donald Trump has threatened to impose tariffs as high as 100% on Canadian vehicles and metals, a move that has left Ottawa scrambling for alternatives. This unprecedented threat comes as Canada is ahead of schedule in its electric vehicle (EV) sales targets, with plans to make one in ten cars sold electric by 2025.

The longstanding economic partnership between the U.S. and Canada, which saw bilateral trade exceed $900 billion in 2023, is now under strain. Canada exports a significant portion of its goods, including over 60% of its vehicles, to the U.S. However, Trump’s trade policy poses a serious risk to this relationship, prompting Canadian officials to consider redirecting vehicle and metal exports to the EU.

In response to the looming tariffs, Canadian lawmakers are contemplating retaliatory measures, including a proposed 100% tariff on Tesla vehicles. Tesla, led by Elon Musk, is not only a symbol of American ingenuity but also a crucial player in the Canadian EV market, having sold over 50,000 cars there in 2024 alone. A 100% tariff could double the price of a Tesla Model Y, significantly impacting sales and the company’s North American growth.

While the U.S. remains Canada’s largest market, analysts suggest that Canada’s Comprehensive Economic and Trade Agreement (CETA) with the EU could provide a viable alternative. Since the agreement’s implementation, Canadian exports to Europe have surged by 30%. However, challenges remain, including higher shipping costs and regulatory differences.

As Canada weighs its options, European leaders are open to bolstering trade relations. With the EU’s growing demand for battery minerals like lithium and cobalt, Canada could position itself as a key supplier in the EU’s green transition. This evolving scenario may lead to a significant realignment in global trade, as Canada seeks to leverage its resources and negotiate from a position of strength amidst U.S. protectionism.

Related Posts

28 ROCKY Actors Who Have Tragically Passed Away

The “Rocky” franchise, a cornerstone of cinematic history, has captivated audiences with its unforgettable characters and legendary performances. However, the legacy of this beloved series is tinged with…

34 Cast Members from ‘The Cosby Show’ Have Passed Away

“The Cosby Show,” a cherished sitcom that graced television screens for over a decade, has left an indelible mark on audiences worldwide. Known for its humor and life…

Shocking Final Footage Leaks: Lil Jeff’s Last Stand Exposed—You Won’t Believe What Happened!

The streets of Chicago are in turmoil following the recent leak of footage depicting the final moments of Lil Jeff, a notorious figure in the city’s drill rap…

34 Cast Members from ‘The Cosby Show’ Have Passed Away

The legacy of “The Cosby Show,” one of television’s most cherished sitcoms, has been marked by both laughter and heartbreak. Over the years, the show has seen the…

Some Mothers Do ‘Ave ‘Em (1973) Cast THEN AND NOW 2025, All cast died tragically!

Over fifty years since its debut, “Some Mothers Do ‘Ave ‘Em” remains one of Britain’s most beloved sitcoms, known for its slapstick humor and unforgettable characters. The show,…

Shocking New Footage Reveals Lil Jeff’s Ruthless Attack on Cops—Did He Go Too Far?

A chilling new video has surfaced, showcasing the notorious Chicago drill rapper Lil Jeff’s violent interactions with law enforcement and his alleged involvement in multiple 𝓀𝒾𝓁𝓁ings, including the…

Leave a Reply

Your email address will not be published. Required fields are marked *