Prime Minister Mark Carney’s trade mission to China is being framed as a win for British Columbia’s economy.
Carney announced a brand new take care of Beijing on electric vehicles and canola at the top of a high-profile trip on Friday.
“The inroads Canada has made this week are an indication that the federal government gets it and is showing Canadians and the world that we’re open for business,” Alexa Young with the Vancouver Fraser Port Authority said.
The trade deal would allow as much as 49,000 Chinese EVs into Canada yearly at a tariff rate of 6.1 per cent.
An expanded auto terminal on Annacis Island will give you the option to handle the extra volume of cars that might be cheaper than what’s currently in the marketplace, with prices expected to be under $40,000.
The Latest Automotive Dealers Association said in a press release to Global News that, “We sit up for reviewing the total details of this announcement and fascinating constructively with governments to make sure that affordability, competition, and long-term market stability remain central considerations.”
In British Columbia, the general response to the news on Friday is positive.
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“China’s economy is very important,” Alex McMillan with the B.C. Chamber of Commerce said.
“Having trade deals like this — and diversifying our markets — is very important. Providing certainty is very important.”
There are concerns with the agreement, including privacy issues and China’s human rights record. But Ottawa’s goal is to double trade with partners outside the USA, which is a goal that may be not possible without China.
“We do need to see more trade and more diversification of our markets and know that China is a vital nation and vital economy, so having higher trade relationships with them, I feel overall goes to be good,” McMillan said.
–with files from The Canadian Press
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