Tesla, Inc. (NASDAQ:TSLA) is one of the 15 Best S&P 500 Stocks to Look For in 2026.
Tesla, Inc. (NASDAQ:TSLA) could be a beneficiary of a new development in which Canada agreed to the removal of 100% tariffs on Chinese-made EVs, according to Reuters. On January 19, Reuters reported that Canada is lowering the EV-import tariff to 6.1% from 100% as part of trade deal normalization with China.
As per the deal, Canada will allow the import of over 49,000 EVs annually from China, with the quota rising to 70,000 within five years. With Tesla’s strong presence in Canada, it could be a great deal for the EV maker. The company already has 39 stores across the country, and an existing logistics setup is a plus. Since Tesla’s largest factory is in Shanghai, it is planning to build a Canada-specific version of the Model Y.
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Tesla’s exports were on hold as tariffs rose in 2024. The new deal could allow the company to resume operations with China-based shipments in Canada.
Tesla, Inc. (NASDAQ:TSLA) is a leading EV maker and also designs, develops, and manufactures energy generation and storage systems. The company operates through two segments: Automotive and Energy Generation and Storage.
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Disclosure: None. This article is originally published at Insider Monkey.
