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Canada Unveils Auto Industry Plan In Latest Pivot Away From US. Prime Minister Mark Carney has announced a new plan to strengthen Canada’s auto industry and support its shift to electric vehicles (EVs), as the sector struggles under the weight of US tariffs. The initiative, unveiled on Thursday, marks Canada's latest effort to reduce its reliance on the US, especially amid President Donald Trump’s push for more domestic car production. Carney’s strategy includes financial incentives for automakers to invest in Canada and the return of rebates for EVs. Trump’s 25% tariff on Canadian cars and parts, imposed last year, has hit the sector hard, given that 90% of Canada’s vehicles are exported to the US. Carney noted that the USMCA trade deal, which originally aimed to eliminate tariffs across North America, no longer reflects the US administration's current objectives. In response, Canada is exploring new strategies, including a new tariff credit system to help offset costs for companies like General Motors and Toyota. Carney’s announcement follows a recent deal with China, where Canada will ease tariffs on Chinese EVs, a move aimed at diversifying trade relationships as tensions with the US continue.
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