Canada puts tariffs on Chinese EVs, steel imports
NewsGovernment imposes 100% tariff on EVs and 25% tariff on some steel products from China.
STB approves CN acquistion
The US Surface Transportation Board has approved CN’s application to take over the Elgin, Joliet & Eastern Railway Company (EJ&E) from United States Steel Corporation, subject to conditions
As previously reported (WorldCargo News, November 2008, p23), the STB expressed concerns about the environmental impact of the deal, as the Canadian carrier wants to increase intermodal and other freight traffic along the line of route.
The STB has concluded that although the transaction will bring environmental benefits to those living in and near Chicago, it will have adverse environmental impacts on communities along the EJ&E line. Accordingly, it says it has imposed “substantial environmental mitigation to minimise potential adverse enviromental impacts of the transaction.”
The STB added that “any minor anti-competitive effects that may result are outweighed by the overall transportation benefits.” CN hopes to close the US$300M deal before the edn of January, although there are reports that the STB may be appealed.
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