Canadian authorities to allocate $1.4 bln to help country's auto sector amid trade war

Jason Alden

Carney mentioned that his administration would attempt to create an auto parts network in Canada to enhance local production of components and lessen the necessity for them to cross the U.S. border.

Earlier this week, U.S. President Donald Trump stated that he would reveal tariffs on imports of automotive-related goods in the next few days. Experts stated that such a measure poses a significant risk to the highly integrated automotive supply chains in North America.

The majority of vehicles made in Canada are sent to the US.

source: reuters.com

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Canadian authorities to allocate $1.4 bln to help country's auto sector amid trade war

Canadian Prime Minister Mark Carney has committed to dedicating 2 billion Canadian dollars ($1.4 billion) to establish a “strategic fund” to support the domestic auto industry during the trade conflict with the U.S., according to Market Watch.