Canada

Canada PM Mark Carney's 'landmark agreement' with China in January 2026 was a trade deal in the oldest sense: agricultural commodities (mainly Canadian canola) for manufactured goods (EVs from China).

The US, instead, was imposing tariffs.

Thanks to the new trade deal, up to 49,000 EVs built in China can be imported into Canada at a reduced tariff rate of 6.1 percent, down from the 100 percent tariff imposed in 2024.

Canada began issuing permits for the first 24,500 vehicles in March, and Tesla moved quickly to capitalize.

It remains unclear how many of the initial 24,500 permits Tesla will lock down, though Tesla looks poised to walk away with the lion’s share according to several reports.

This means that Tesla, the company run by the man closest to the US president who started the trade war in 2025, is the first and most aggressive beneficiary of Carney's 'landmark agreement.'

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