The post Canada’s Carney faces pressure at home over EV trade truce with China appeared on BitcoinEthereumNews.com. Ontario Premier Doug Ford has called on CanadaThe post Canada’s Carney faces pressure at home over EV trade truce with China appeared on BitcoinEthereumNews.com. Ontario Premier Doug Ford has called on Canada

Canada’s Carney faces pressure at home over EV trade truce with China

Ontario Premier Doug Ford has called on Canada to boycott Chinese-made electric vehicles (EVs) that will be entering the country as a result of the recent deal the federal government struck with China.

Speaking at Queen’s Park on Wednesday, January 21, Ford issued his strongest condemnation yet of the agreement, which allows up to 49,000 Chinese EVs into Canada annually at a reduced tariff rate of 6.1%, down from 100%.

The deal, announced last week during Carney’s trip to China, offers relief to Canadian canola farmers in exchange for opening the door to Chinese automakers.

Ford, who was flanked by leaders and major stakeholders in the auto sector of Ontario, stated, “Boycott the Chinese EV vehicles. Support companies that are building vehicles here.” 

Ford called for Canadians to protect domestic manufacturers like Toyota, Stellantis, and General Motors that have invested heavily in Ontario’s auto sector.

What is Canada’s auto industry saying?

Flavio Volpe, president of the Automotive Parts Manufacturers’ Association, noted that 49,000 vehicles represent approximately one shift at an auto plant, affecting 1,000 workers directly and potentially 5,000 supplier workers.

Lana Payne, Unifor National President, stated, “Opening up the Canadian market to cheap China-owned EVs, worsens the situation we already have where more and more countries and auto companies who build and manufacture nothing here in Canada can sell here.”

She also expressed skepticism about what Carney said about Chinese companies coming to establish manufacturing operations in Canada, stating that China has an overcapacity in EV production. 

Payne also pointed out that the core supply chains of the EV market are in China.

Payne said that they are in the fight of their lives, fending off Trump’s tariffs, and that fight just got a little harder. She called for the government and other stakeholders to collectively work to stabilize and protect the country’s auto sector now so that they can have a future one.

Federal-provincial tensions as a result of the deal

Ford revealed that he received only hours’ notice before the deal was announced and has not spoken with Carney since, despite what he believed was a close working relationship. 

The premier had expected at least a courtesy call before such a consequential decision affecting Ontario’s auto workforce.

Ford has also raised national security concerns, comparing Chinese-made EVs to “Huawei 2.0” and claiming the vehicles could function as “spy vehicles” capable of monitoring Canadians’ phone conversations, which is a major reason Canada gave when it placed a ban on Huawei equipment in 5G networks in 2022.

What are other regions saying?

The deal has exposed regional divisions within Canada as its western agricultural provinces have welcomed the agreement.

Saskatchewan Premier Scott Moe called it a good deal for Canada. The new deal will see China lower canola tariffs to 15% from around 84% and remove tariffs entirely on canola meal, lobsters, crab, and peas.

Manitoba Premier Wab Kinew described it as progress, though a mixed bag.

If you’re reading this, you’re already ahead. Stay there with our newsletter.

Source: https://www.cryptopolitan.com/canada-carney-pressure-ev-trade-truce-china/

Market Opportunity
Polytrade Logo
Polytrade Price(TRADE)
$0.05108
$0.05108$0.05108
+1.00%
USD
Polytrade (TRADE) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact [email protected] for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Fed Acts on Economic Signals with Rate Cut

Fed Acts on Economic Signals with Rate Cut

In a significant pivot, the Federal Reserve reduced its benchmark interest rate following a prolonged ten-month hiatus. This decision, reflecting a strategic response to the current economic climate, has captured attention across financial sectors, with both market participants and policymakers keenly evaluating its potential impact.Continue Reading:Fed Acts on Economic Signals with Rate Cut
Share
Coinstats2025/09/18 02:28
Iran’s Central Bank Spends $500M on Crypto Amid Rial Crisis

Iran’s Central Bank Spends $500M on Crypto Amid Rial Crisis

Iran's Central Bank has reportedly acquired more than $500 million in cryptocurrency assets over the past year to mitigate the ongoing currency crisis.
Share
coinlineup2026/01/22 08:59
Unlocking Massive Value: Curve Finance Revenue Sharing Proposal for CRV Holders

Unlocking Massive Value: Curve Finance Revenue Sharing Proposal for CRV Holders

BitcoinWorld Unlocking Massive Value: Curve Finance Revenue Sharing Proposal for CRV Holders The dynamic world of decentralized finance (DeFi) is constantly evolving, bringing forth new opportunities and innovations. A significant development is currently unfolding at Curve Finance, a leading decentralized exchange (DEX). Its founder, Michael Egorov, has put forth an exciting proposal designed to offer a more direct path for token holders to earn revenue. This initiative, centered around a new Curve Finance revenue sharing model, aims to bolster the value for those actively participating in the protocol’s governance. What is the “Yield Basis” Proposal and How Does it Work? At the core of this forward-thinking initiative is a new protocol dubbed Yield Basis. Michael Egorov introduced this concept on the CurveDAO governance forum, outlining a mechanism to distribute sustainable profits directly to CRV holders. Specifically, it targets those who stake their CRV tokens to gain veCRV, which are essential for governance participation within the Curve ecosystem. Let’s break down the initial steps of this innovative proposal: crvUSD Issuance: Before the Yield Basis protocol goes live, $60 million in crvUSD will be issued. Strategic Fund Allocation: The funds generated from the sale of these crvUSD tokens will be strategically deployed into three distinct Bitcoin-based liquidity pools: WBTC, cbBTC, and tBTC. Pool Capping: To ensure balanced risk and diversified exposure, each of these pools will be capped at $10 million. This carefully designed structure aims to establish a robust and consistent income stream, forming the bedrock of a sustainable Curve Finance revenue sharing mechanism. Why is This Curve Finance Revenue Sharing Significant for CRV Holders? This proposal marks a pivotal moment for CRV holders, particularly those dedicated to the long-term health and governance of Curve Finance. Historically, generating revenue for token holders in the DeFi space can often be complex. The Yield Basis proposal simplifies this by offering a more direct and transparent pathway to earnings. By staking CRV for veCRV, holders are not merely engaging in governance; they are now directly positioned to benefit from the protocol’s overall success. The significance of this development is multifaceted: Direct Profit Distribution: veCRV holders are set to receive a substantial share of the profits generated by the Yield Basis protocol. Incentivized Governance: This direct financial incentive encourages more users to stake their CRV, which in turn strengthens the protocol’s decentralized governance structure. Enhanced Value Proposition: The promise of sustainable revenue sharing could significantly boost the inherent value of holding and staking CRV tokens. Ultimately, this move underscores Curve Finance’s dedication to rewarding its committed community and ensuring the long-term vitality of its ecosystem through effective Curve Finance revenue sharing. Understanding the Mechanics: Profit Distribution and Ecosystem Support The distribution model for Yield Basis has been thoughtfully crafted to strike a balance between rewarding veCRV holders and supporting the wider Curve ecosystem. Under the terms of the proposal, a substantial portion of the value generated by Yield Basis will flow back to those who contribute to the protocol’s governance. Returns for veCRV Holders: A significant share, specifically between 35% and 65% of the value generated by Yield Basis, will be distributed to veCRV holders. This flexible range allows for dynamic adjustments based on market conditions and the protocol’s performance. Ecosystem Reserve: Crucially, 25% of the Yield Basis tokens will be reserved exclusively for the Curve ecosystem. This allocation can be utilized for various strategic purposes, such as funding ongoing development, issuing grants, or further incentivizing liquidity providers. This ensures the continuous growth and innovation of the platform. The proposal is currently undergoing a democratic vote on the CurveDAO governance forum, giving the community a direct voice in shaping the future of Curve Finance revenue sharing. The voting period is scheduled to conclude on September 24th. What’s Next for Curve Finance and CRV Holders? The proposed Yield Basis protocol represents a pioneering approach to sustainable revenue generation and community incentivization within the DeFi landscape. If approved by the community, this Curve Finance revenue sharing model has the potential to establish a new benchmark for how decentralized exchanges reward their most dedicated participants. It aims to foster a more robust and engaged community by directly linking governance participation with tangible financial benefits. This strategic move by Michael Egorov and the Curve Finance team highlights a strong commitment to innovation and strengthening the decentralized nature of the protocol. For CRV holders, a thorough understanding of this proposal is crucial for making informed decisions regarding their staking strategies and overall engagement with one of DeFi’s foundational platforms. FAQs about Curve Finance Revenue Sharing Q1: What is the main goal of the Yield Basis proposal? A1: The primary goal is to establish a more direct and sustainable way for CRV token holders who stake their tokens (receiving veCRV) to earn revenue from the Curve Finance protocol. Q2: How will funds be generated for the Yield Basis protocol? A2: Initially, $60 million in crvUSD will be issued and sold. The funds from this sale will then be allocated to three Bitcoin-based pools (WBTC, cbBTC, and tBTC), with each pool capped at $10 million, to generate profits. Q3: Who benefits from the Yield Basis revenue sharing? A3: The proposal states that between 35% and 65% of the value generated by Yield Basis will be returned to veCRV holders, who are CRV stakers participating in governance. Q4: What is the purpose of the 25% reserve for the Curve ecosystem? A4: This 25% reserve of Yield Basis tokens is intended to support the broader Curve ecosystem, potentially funding development, grants, or other initiatives that contribute to the platform’s growth and sustainability. Q5: When is the vote on the Yield Basis proposal? A5: A vote on the proposal is currently underway on the CurveDAO governance forum and is scheduled to run until September 24th. If you found this article insightful and valuable, please consider sharing it with your friends, colleagues, and followers on social media! Your support helps us continue to deliver important DeFi insights and analysis to a wider audience. To learn more about the latest DeFi market trends, explore our article on key developments shaping decentralized finance institutional adoption. This post Unlocking Massive Value: Curve Finance Revenue Sharing Proposal for CRV Holders first appeared on BitcoinWorld.
Share
Coinstats2025/09/18 00:35