Canada, Tariffs
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Associated Press News |
Canada will match U.S. President Donald Trump’s 25% auto tariffs with a tariff on vehicles imported from the United States.
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Carney said Canadians are already seeing the impact. Automaker Stellantis said it shut down its assembly plant in Windsor, Canada, for two weeks from April 7, the local union said late Wednesday.
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Stellantis has “paused production” at some of its Canadian and Mexican auto assembly plants due to the newly announced tariffs — and as a result, some US workers will also be temporarily laid off.
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Automaker Stellantis is temporarily halting production at a plant in Canada and a plant in Mexico shortly after President Donald Trump announced a 25% tariff on imported vehicles.
Prime Minister Mark Carney of Canada has announced reciprocal tariffs on U.S.-made vehicles as President Donald Trump's sweeping tariffs went into effect, sending shockwaves through the global financial system.
Canadian Prime Minister Mark Carney today announced a retaliatory 25% tariff today in response to President Trump’s moves on Wednesday. Canada is the U.S.’s largest export market for cars. The plan represents covers 8% of the 750,
20hon MSN
Stellantis is temporarily laying off 900 workers and pausing production at some plants in Mexico and Canada as a result of President Donald Trump's latest auto tariffs.
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Germany's Volkswagen, Mercedes-Benz Group and BMW were all trading around 2% lower at 11:45 a.m. London time (6:45 a.m. ET), while Milan-listed Stellantis dipped 1%. Shares of Sweden's Volvo Cars, however, tumbled more than 10%.
President Donald Trump has promised to unleash a wave of dollar-for-dollar reciprocal tariffs on nations that he feels are treating the United States unfairly in terms of trade, either through higher tariffs or non-tariff trade barriers.
The Canadian government's decision to impose counter-tariffs is a direct response to the recent tariffs levied by the U.S. on Canadian-made automobiles. Such tariffs have sparked notable repercussions across various sectors.
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The New Republic on MSNHere’s What Trump’s Tariffs Could Do to the U.S. Auto IndustryThe president claims the measures will help autoworkers. But experts say that’s far from certain—and that they could tank the industry instead.