Despite dodging further tariffs during “Liberation Day,” Canada’s top ministers have expressed opposition to Trump’s latest trade policies, fearing the two nations will “never be the same again.”
Today, Canadian Foreign Minister Mélanie Joly stated: “They want to do things differently and we understand that, and that’s why we will seek to make sure that we get to an agreement on trade but also on security because both cannot be siloed.”
On Thursday, Canada placed a retaliatory 25% levy on US-made vehicles entering the country. “We announced new counter tariffs on auto yesterday, because we think that it is ultimately the best way to get to a good deal eventually,” Joly concluded.
On Thursday, Stellantis, the manufacturer of Chrysler and Dodge vehicles, announced that it will halt production at several plants in Canada and Mexico. Additionally, the company temporarily laid off 900 employees based in the United States.
“We’re not too surprised about the fact that this has put a stoppage essentially, immediately, to some production facilities. And the repercussions will play out on more and more industries that are interconnected with the auto parts sector,” said Pedro Antunes, of the Conference Board of Canada.
By CEO NA Editorial Staff
