Trump approves of Canada's Chinese EV quota deal, Carney says
During a recent G7 summit in Evian, France, Canadian Prime Minister Mark Carney revealed that US President Donald Trump is pleased with Canada’s agreement to import a restricted number of Chinese electric vehicles at a low tariff. This arrangement, which Carney negotiated during his trip to Beijing in January, allows for the annual import of up to 49,000 Chinese EVs at a tariff of approximately 6%, a significant decrease from the previous tariff of over 100%. Their exchange was inadvertently recorded when a hot mic picked up Carney outlining the quota system, to which Trump replied, "that's good." Although Trump did not explicitly endorse the deal when asked, he acknowledged that he understood the quota and initiated the conversation regarding the arrangement.
Key facts
- Canada allows up to 49,000 Chinese EVs per year at 6% tariff
- Previous tariff on Chinese EVs was over 100%
- Deal was unveiled during Carney's January trip to Beijing
- Hot mic captured Carney and Trump discussing the deal at G7 summit in Evian
- Trump said 'that's good' in response to Carney's explanation
- Carney said Trump likes the structure of the deal
- Trump did not explicitly approve but understood the quota
- Quota will climb gradually over time
Entities
Institutions
- Group of Seven
- G7
Locations
- Canada
- China
- Beijing
- Evian
- France