Just over a week before new U.S. tariffs are expected to come into force, the head of Canada’s auto parts manufacturing association says he’s not optimistic any meaningful reprieve is in the works. Read More
Just over a week before new U.S. tariffs are expected to come into force, the head of Canada’s auto parts manufacturing association says he’s not optimistic any meaningful reprieve is in the works. “Until a tariff comes into effect and it affects the U.S. economy … I’m not confident that anybody is going to be
Just over a week before new U.S. tariffs are expected to come into force, the head of Canada’s auto parts manufacturing industry says he’s not optimistic any meaningful reprieve is in the works.
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April 2 is set to bring sweeping new reciprocal tariffs from the U.S. in addition to the tariffs on some Canadian and Mexican goods that were delayed by a month. The president had also floated the idea of separate, sector-specific tariffs the same day.
But over the weekend, media reports suggested the reciprocal tariffs could be narrower than initially announced, and that the sector-specific tariffs are off the table for now.
However, Flavio Volpe says with all the layers of tariffs and the stream of new announcements and threats, the reports offer “zero comfort.”
For industries that rely on exports to the U.S., tariffs could be a major hit as their customers south of the border may buy fewer goods or switch to American alternatives.
Volpe says U.S. President Donald Trump is putting major auto companies like General Motors and Ford at risk with his tariff policies, jeopardizing Canadian suppliers at the same time.
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