The Goofy Award
Source: Michael Campbell Money Talks | Date: January 24, 2026
Key Takeaways
- Michael Campbell criticizes Canada's deal with China to remove tariffs on 49,000 Chinese EVs in exchange for reduced tariffs on Canadian seafood and canola
- Chinese EVs are cheaper due to massive government subsidies ($231 billion US from 2009-2023), lower environmental regulations, and significantly lower labor costs
- Campbell highlights the hypocrisy of wanting cheaper EVs while ignoring the reasons behind their low prices
- Environmental regulations account for 10-35% of cost differences between Chinese and Canadian EV production
- Chinese factory workers earn $5-8/hour compared to $18-28/hour for Canadian workers
Market Views
- Chinese government subsidies from 2009-2023 totaling $231 billion US have allowed Chinese manufacturers to underprice global competitors
- Labor cost advantages of 70-85% give Chinese manufacturers significant competitive edge
Assets Discussed
- Chinese Electric Vehicles: Subject of tariff removal deal (up to 49,000 vehicles)
- Canadian Seafood Exports: Part of trade deal with China for tariff reductions
- Canola: Canadian agricultural export receiving tariff relief in China
- Ontario EV Industry: Described as "fledgling taxpayer subsidized" sector needing protection
Notable Quotes
- "Go ahead and buy the Chinese EVs. But know what you're buying and why they are significantly less expensive."
- "By removing the tariffs on Chinese EVs, we've just said yes to all of those aspects of Chinese manufacturing EVs that makes them so much cheaper than North America once."
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