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Canadian automotive sector faces substantial losses even under reduced tariff proposals

1 week ago 10

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It’s an anxious evening for Canadians whose livelihoods depend on the sectors that are on the table in the ongoing trade talks. After weathering 25 per cent tariffs over the past year and a half and billions of dollars in losses, any new tax implemented in the new trade deal would deliver a devastating blow to Canada’s automotive sector. Even with a penalty reduction on the table in trade talks, Canadian automotive plants would still be staring down nine-figure losses on an annual basis. Longtime former policy advisor Greig Mordue says any tariff higher than “zero” for any sustained amount of time could ultimately mean automakers can't justify, or carry, the cost of production. Sarah MacDonald reports. For more info, please go to https://globalnews.ca/news/12029895/canada-us-deal-tariff-deadline/ Subscribe to Global News Channel HERE: http://bit.ly/20fcXDc Follow Global News on X HERE: http://bit.ly/1Toz8mt Follow Global News on TikTok HERE: https://www.tiktok.com/@globalnews.ca?lang=en #GlobalNews
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