The Liberal government recently announced new tariffs on electric vehicles, steel and aluminum imports from China—marking the latest move in the global trend of trade segregation to boost domestic priorities.

That’s not the end of it - by the end of the ongoing 30-day government consultation, tariffs could also be imposed on other products including solar cells, EV batteries, chips, and critical minerals. These new measures are aimed to shield domestic producers from unfair international competition, but will also lead to an immediate increase in input costs for Canadian importers, while creating more tension amid an already frigid global trade environment.