Search This Blog
money saving tips for canadians, best saving tips for canadians of all ages. MoneySavings and Canadian news, financial news
Featured
article
- Get link
- X
- Other Apps
Canada Strikes Back: Matching U.S. Auto Tariffs
In a bold move, Prime Minister Mark Carney announced that Canada will impose matching tariffs on U.S. automobile imports. This decision comes in response to U.S. President Donald Trump's 25% tariffs on auto imports, which took effect on April 3, 2025. Carney emphasized that these counter-tariffs aim to protect Canadian autoworkers and industries while minimizing harm to the domestic economy.
The Canadian tariffs will target vehicles that fail to meet the Canada-U.S.-Mexico Agreement's content requirements, excluding auto parts and Mexican content. Carney highlighted that the revenue generated, estimated at $8 billion, will directly support affected Canadian workers and companies. He also criticized the U.S. tariffs as "unjustified and misguided," warning of their potential to disrupt the global economy.
This announcement follows the temporary closure of the Stellantis auto assembly plant in Windsor, Ontario, impacting 3,600 workers. Carney assured Canadians that his government is working on a relief framework for the auto sector, signaling a firm stance against escalating trade tensions.
Popular Posts
Stock Market Today: Apple Earnings Boost Spirits Amid Soft Jobs Report
- Get link
- X
- Other Apps
Stock Market Today: Nasdaq Surges and GameStop Skyrockets
- Get link
- X
- Other Apps
Comments
Post a Comment