Posthaste: Job losses 'unavoidable' in Canada's auto sector as Donald Trump doubles down on tariff threat [Yahoo! Finance Canada]
Ford Motor Company (F)
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Source: Yahoo! Finance Canada
“I really don't want cars from Canada,” Trump said yesterday in the Oval Office . “So when I put tariffs on Canada, they're paying 25 per cent, but that could go up in terms of cars. When we put tariffs on, all we're doing is we're saying, ‘We don't want your cars, in all due respect.” Trump already has a 25 per cent tariff on autos imported to the United States, but there are exemptions related to the Canada-U.S.-Mexico Agreement (CUSMA) . Another tariff on auto parts not compliant with CUSMA could come by May 3. For the time being, Canada and Mexico still hold some competitive advantage over other countries, said Florence Jean-Jacobs, principal economist for Desjardins Group. “But with the tariff situation constantly in flux and the stated objective of the U.S. administration to reshore auto manufacturing, Canada's auto sector is still in a vulnerable position,” she said in a report yesterday. The integrated supply chain between the two countries has been decades in the mak
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