Mexican Media Brands
Canada Also Could Face Trump Border Tax
The incoming Trump administration says its threats about imposing imports taxes on Mexican-made cars would apply to Canada if a company’s operations there “put U.S. workers at a disadvantage,” spokesman Sean Spicer tells reporters.
#economics
Share
The incoming Trump administration says its threats about imposing imports taxes on Mexican-made cars would apply to Canada if a company’s operations there “put U.S. workers at a disadvantage,” spokesman Sean Spicer tells reporters.
Bloomberg News says the U.S. imported vehicles worth $37 billion from Canada last year, compared with $19 billion from Mexico. On the other hand, the U.S. trade deficit with Canada is roughly one-sixth as much as its shortfall with Mexico.
Analysts and suppliers note that the auto industry’s supply lines between Canada and the U.S. are many and complex. Some components go back and forth across the border repeatedly during the vehicle production process. Spicer emphasizes that Trump’s aim is for fair trade, not abolishing trade, with other countries.
RELATED CONTENT
-
On Lincoln-Shinola, Euro EV Sales, Engineered Carbon, and more
On a Lincoln-Shinola concept, Euro EV sales, engineered carbon for fuel cells, a thermal sensor for ADAS, battery analytics, and measuring vehicle performance in use with big data
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.