FINWIRES · TerminalLIVE
FINWIRES

Market Chatter: China-Made EVs Start Arriving in Canada Following Ottawa's Quota

By

China-manufactured electric vehicles have started arriving in Canada following an agreement with President Xi Jinping and Prime Minister Mark Carney, Bloomberg News reported Thursday.

The deal will allow as many as 49,000 China-made EVs within 12 months at a 6% tariff rate, the report said.

Before the agreement, Ottawa imposed a tariff of more than 100%, effectively equivalent to a trade ban, Bloomberg reported.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Related Articles

Asia

Hengrui Pharma Secures China Registration for Gout Drug; Shares Up 3%

Jiangsu Hengrui Pharmaceuticals (SHA:600276) obtained drug registration from China's medical products regulator for its luzinuole sodium tablets.The drug is used for gout with hyperuricemia, according to a Thursday filing with the Shanghai bourse.Shares of the pharmaceutical company rose 3% in recent trade.

SHA:600276
Asia

Market Chatter: New Zealand Finance Minister Doesn't Want Banks to Pass Costs of Prudential Levy to Customers

New Zealand Finance Minister Nicola Willis said she would be "extremely disappointed" if the country's banks decide to pass on the costs of a new prudential levy to their customers, interest.co.nz reported Friday.The government is implementing a prudential levy on banks, non-bank deposit takers, insurers, and financial market infrastructure providers as part of its 2026 budget. The levy would support cost recovery for the central bank's statutory prudential functions and is expected to generate roughly NZ$209 million during the next four years, according to the report.The government believes revenue from the new levy would represent less than 1% of the aggregate profit of ANZ Group Holdings (ASX:ANZ, NZE:ANZ), Westpac Banking (ASX:WBC, NZE:WBC), Heartland Group Holdings (ASX:HGH, NZE:HGH), and Commonwealth Bank of Australia (ASX:CBA) unit ASB Bank."I would like to send them a very clear message: They are some of the most profitable banks in the world. Other counties around the world have these levies and you haven't seen it being passed through," Willis said in an interview with interest.co.nz.Westpac, Heartland, and Commonwealth Bank did not immediately respond to requests for comment from. ANZ deferred to the New Zealand Banking Association, which did not immediately reply to an email.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:ANZASX:CBAASX:HGHASX:WBCNZE:ANZNZE:HGHNZE:WBC
Asia

National United Resources Eyes Seafood Trade, Supply Chain Partnership; Shares Rise 12%

National United Resources (HKG:0254) entered into a strategic cooperation agreement with Harbin Hongzemeng Import and Export to establish a comprehensive strategic partnership, according to a Thursday Hong Kong bourse filing.Shares of the firm were up nearly 12% in late morning trade on Friday.Under the agreement, National United Resources intends to purchase high-end frozen-at-sea and live seafood products, including king crab, from Hongzemeng, which has agreed to supply the products.The companies will also explore cooperation in trade projects and supply chain development, including potential investments, joint ventures, import activities, and supply chain services.

HKG:0254