<div id="readability-page-1"><p>Chinese electric-vehicle makers such as BYD (BYDDY), XPeng (XPEV), and Nio (NIO) may be gearing up for a boost. On Friday, Canada and China reset their diplomatic ties, agreeing to an early tariff cut on electric vehicles.</p><h3>Claim 70% Off TipRanks Premium</h3><ul><li>Unlock  hedge fund-level data  and  powerful investing tools  for smarter, sharper decisions  </li><li> Stay ahead of the market with  the latest news and analysis  and maximize your portfolio's potential</li></ul> <p>Mark Carney, Canada's prime minister, on Friday said his administration will impose a 6.1% tariff on EVs from China, allowing up to 49,000 units into the North American country. This marks a dramatic turnaround from the 100% tariffs imposed on the Asian giant by Justin Trudeau, Canada's former prime minister, in 2024. </p> <p>The arrangement suggests that Canada — which counts the U.S. as its largest trading partner, followed by China — may be seeking other strategic alignments, even as diplomatic relations with Washington have taken a hit recently. In May 2024, the U.S., under former President Joe Biden, imposed a 100% tariff on Chinese EV imports, with the duty coming into effect that same year.</p>   </div>

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<p>Chinese electric vehicle manufacturers BYD, XPeng, and Nio are poised for growth following a new tariff agreement between Canada and China. Canada will impose a 6.1% tariff on Chinese EVs, allowing up to 49,000 units to enter the country, a significant reduction from the previous 100% tariff. This shift in policy reflects Canada's strategic realignment amid strained relations with the U.S., which had also imposed a 100% tariff on Chinese EV imports in 2024.</p>

- Canadian and Chinese diplomatic ties were reset, leading to an early tariff cut on electric vehicles.  
- Canada will impose a 6.1% tariff on Chinese EVs and allow up to 49,000 units into the market, a significant change from the previous 100% tariff enacted in 2024.  
- This decision indicates Canada's potential shift towards new strategic alignments amidst strained relations with the U.S., which also imposed a 100% tariff on Chinese EVs in 2024.

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BYDDY, XPEV, NIO: Chinese EV Makers in Focus as Canada, China Strike Tariff Deal