‘It’s going to be rough for Canadian manufacturers to negotiate:’ Analyst on new Chinese EVs - BNN Bloomberg

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Canada, the United States, the European Union and more than a dozen allies pledged in a joint statement Wednesday to tackle excess global production capacity of electric vehicles, batteries and solar panels, an issue Washington has blamed on China. In all, 14 countries – all members of the Group of 20 – plus the EU signed on to this communiqué, which warned of the increasing harms that factory overproduction “created, sustained, or contributed to by government policies or interventions” is causing to the signatories’ domestic industries. Notably, however, G20 members including China, Brazil, Indonesia, Russia, Saudi Arabia and South Africa did not sign the statement. The statement did not name any countries considered responsible for subsidizing factories or overproducing goods that swamp global markets. But it named affected industries: electric vehicles, batteries, solar panels, chemicals and some semiconductors. Opinion: The Iran oil shock should mean EV sales are surging – so why aren’t they?