U.S. President Donald Trump’s additional 25 per cent tariff on imported medium- and heavy-duty trucks is kicking in. While there will be a carveout for vehicles traded under the Canada-U.S.-Mexico Agreement, some Canadian manufacturers are worried.
Breakdown
- A 25% tariff on medium and heavy-duty trucks imported to the U.S. took effect on November 1.
- Canadian manufacturers, including Edison Motors, are concerned about the added costs, which can exceed $100,000 per truck. 18s
- A major Quebec manufacturer shifted most production to the U.S. and cut hundreds of jobs in Canada. 39s
- Production at the affected plant dropped from 100 trucks a day to 18, raising sustainability concerns. 1m 2s
- Economists say the Canadian market cannot compensate for lost U.S. sales, and the tariffs are contributing to a shrinking manufacturing sector and GDP. 1m 24s
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Global Tariffs
Donald Trump has signed an order to impose tariffs imports into the U.S. from countries including China, Mexico and Canada.