The Canadian federal government said Friday that businesses can now request remission of surtaxes on electric vehicles (EVs), steel and aluminum imported from China.
The Canadian Finance Ministry said in a news release that remission will provide relief from surtaxes or refunds of surtaxes already paid to ensure that Canadian industry has sufficient time to adjust supply chains.
Remission would also apply to potential surtaxes on critical manufacturing sector products, it added, noting that the federal government will consider the appropriate duration of remission.
In October, Canada implemented a suite of tariffs on Chinese imports, including a 100 percent surtax on Chinese-made EVs and a 25 percent surtax on steel and aluminum.
Canada announces tariff exemption on Chinese goods
Canada announces tariff exemption on Chinese goods
China's outstanding aggregate social financing -- the total amount of financing to the real economy -- reached 442.12 trillion yuan (about 63.4 trillion U.S. dollars) as of the end of 2025, up 8.3 percent year on year, central bank data showed on Thursday.
The country's aggregate social financing stood at 35.6 trillion yuan (about 5.1 trillion U.S. dollars) in 2025, up by 3.34 trillion yuan (about 479 billion U.S. dollars) from the year 2024, said the People's Bank of China (PBOC), the country's central bank.
According to the data, the M2, a broad measure of money supply that covers cash in circulation and all deposits, increased 8.5 percent year on year to 340.29 trillion yuan (about 48.8 trillion U.S. dollars) as of the end of December.
In addition, outstanding yuan loans stood at 271.91 trillion yuan (about 39 trillion U.S. dollars) at the end of 2025, up 6.4 percent year on year.
China's aggregate social financing maintains high growth in 2025
