The post Canada’s Carney faces pressure at home over EV trade truce with China appeared on BitcoinEthereumNews.com. Ontario Premier Doug Ford has called on CanadaThe post Canada’s Carney faces pressure at home over EV trade truce with China appeared on BitcoinEthereumNews.com. Ontario Premier Doug Ford has called on Canada

Canada’s Carney faces pressure at home over EV trade truce with China

Ontario Premier Doug Ford has called on Canada to boycott Chinese-made electric vehicles (EVs) that will be entering the country as a result of the recent deal the federal government struck with China.

Speaking at Queen’s Park on Wednesday, January 21, Ford issued his strongest condemnation yet of the agreement, which allows up to 49,000 Chinese EVs into Canada annually at a reduced tariff rate of 6.1%, down from 100%.

The deal, announced last week during Carney’s trip to China, offers relief to Canadian canola farmers in exchange for opening the door to Chinese automakers.

Ford, who was flanked by leaders and major stakeholders in the auto sector of Ontario, stated, “Boycott the Chinese EV vehicles. Support companies that are building vehicles here.” 

Ford called for Canadians to protect domestic manufacturers like Toyota, Stellantis, and General Motors that have invested heavily in Ontario’s auto sector.

What is Canada’s auto industry saying?

Flavio Volpe, president of the Automotive Parts Manufacturers’ Association, noted that 49,000 vehicles represent approximately one shift at an auto plant, affecting 1,000 workers directly and potentially 5,000 supplier workers.

Lana Payne, Unifor National President, stated, “Opening up the Canadian market to cheap China-owned EVs, worsens the situation we already have where more and more countries and auto companies who build and manufacture nothing here in Canada can sell here.”

She also expressed skepticism about what Carney said about Chinese companies coming to establish manufacturing operations in Canada, stating that China has an overcapacity in EV production. 

Payne also pointed out that the core supply chains of the EV market are in China.

Payne said that they are in the fight of their lives, fending off Trump’s tariffs, and that fight just got a little harder. She called for the government and other stakeholders to collectively work to stabilize and protect the country’s auto sector now so that they can have a future one.

Federal-provincial tensions as a result of the deal

Ford revealed that he received only hours’ notice before the deal was announced and has not spoken with Carney since, despite what he believed was a close working relationship. 

The premier had expected at least a courtesy call before such a consequential decision affecting Ontario’s auto workforce.

Ford has also raised national security concerns, comparing Chinese-made EVs to “Huawei 2.0” and claiming the vehicles could function as “spy vehicles” capable of monitoring Canadians’ phone conversations, which is a major reason Canada gave when it placed a ban on Huawei equipment in 5G networks in 2022.

What are other regions saying?

The deal has exposed regional divisions within Canada as its western agricultural provinces have welcomed the agreement.

Saskatchewan Premier Scott Moe called it a good deal for Canada. The new deal will see China lower canola tariffs to 15% from around 84% and remove tariffs entirely on canola meal, lobsters, crab, and peas.

Manitoba Premier Wab Kinew described it as progress, though a mixed bag.

If you’re reading this, you’re already ahead. Stay there with our newsletter.

Source: https://www.cryptopolitan.com/canada-carney-pressure-ev-trade-truce-china/

Market Opportunity
Polytrade Logo
Polytrade Price(TRADE)
$0.05003
$0.05003$0.05003
-1.06%
USD
Polytrade (TRADE) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

U.Today Crypto Review: Ethereum (ETH) Loses 30-Day Progress, Shiba Inu’s (SHIB) End of Bears; Bitcoin’s (BTC) Last Recovery Chance

U.Today Crypto Review: Ethereum (ETH) Loses 30-Day Progress, Shiba Inu’s (SHIB) End of Bears; Bitcoin’s (BTC) Last Recovery Chance

The post U.Today Crypto Review: Ethereum (ETH) Loses 30-Day Progress, Shiba Inu’s (SHIB) End of Bears; Bitcoin’s (BTC) Last Recovery Chance appeared on BitcoinEthereumNews
Share
BitcoinEthereumNews2026/01/22 10:51
Headwind Helps Best Wallet Token

Headwind Helps Best Wallet Token

The post Headwind Helps Best Wallet Token appeared on BitcoinEthereumNews.com. Google has announced the launch of a new open-source protocol called Agent Payments Protocol (AP2) in partnership with Coinbase, the Ethereum Foundation, and 60 other organizations. This allows AI agents to make payments on behalf of users using various methods such as real-time bank transfers, credit and debit cards, and, most importantly, stablecoins. Let’s explore in detail what this could mean for the broader cryptocurrency markets, and also highlight a presale crypto (Best Wallet Token) that could explode as a result of this development. Google’s Push for Stablecoins Agent Payments Protocol (AP2) uses digital contracts known as ‘Intent Mandates’ and ‘Verifiable Credentials’ to ensure that AI agents undertake only those payments authorized by the user. Mandates, by the way, are cryptographically signed, tamper-proof digital contracts that act as verifiable proof of a user’s instruction. For example, let’s say you instruct an AI agent to never spend more than $200 in a single transaction. This instruction is written into an Intent Mandate, which serves as a digital contract. Now, whenever the AI agent tries to make a payment, it must present this mandate as proof of authorization, which will then be verified via the AP2 protocol. Alongside this, Google has also launched the A2A x402 extension to accelerate support for the Web3 ecosystem. This production-ready solution enables agent-based crypto payments and will help reshape the growth of cryptocurrency integration within the AP2 protocol. Google’s inclusion of stablecoins in AP2 is a massive vote of confidence in dollar-pegged cryptocurrencies and a huge step toward making them a mainstream payment option. This widens stablecoin usage beyond trading and speculation, positioning them at the center of the consumption economy. The recent enactment of the GENIUS Act in the U.S. gives stablecoins more structure and legal support. Imagine paying for things like data crawls, per-task…
Share
BitcoinEthereumNews2025/09/18 01:27
İki Büyük Balina Bu Altcoini Dumpladı: Yüklü Sattılar!

İki Büyük Balina Bu Altcoini Dumpladı: Yüklü Sattılar!

On-chain izleme platformu Lookonchain’in verilerine göre, iki büyük balina adresi yaklaşık iki ay önce satın aldıkları PUMP tokenlerini satarak kâr elde etti. 6AkVuG adresi 466.74 milyon PUMP (yaklaşık 3.27 milyon dolar) satarak 1.96 milyon dolar (+%149) kâr elde etti. 58teLV adresi 272.24 milyon PUMP (yaklaşık 1.95 milyon dolar) satarak 1.16 milyon dolar (+%133) kazanç sağladı. […] Kaynak: Bitcoinsistemi.com
Share
Coinstats2025/09/21 00:27