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U.S., Canadian Auto Industries Get in Sync on Trump Response
An ad hoc group representing the U.S. and Canadian auto industries is scrambling to create a report for the Trump administration about how interconnected the two countries are, Bloomberg News reports.
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An ad hoc group representing the U.S. and Canadian auto industries is scrambling to create a report for the Trump administration about how interconnected the two countries are, Bloomberg News reports.
Magna International Inc. CEO Don Walker tells reporters the goal is to shortstop trade policy changes that would make the auto industry’s supply chain less efficient. Walker did not say who is participating in the group, which has been meeting with state and provincial governments.
The initiative was prompted by President Donald Trump’s threat to impose large tariffs on vehicles shipped into the U.S. from Canada and Mexico. Trump also wants to renegotiate the North American Free Trade Agreement among the three countries to make it more favorable to U.S. companies.
Walker declares that a border tax “makes no sense” and warns that big tariffs could undermine Trump's desire to lure more jobs to the U.S. by prompting carmakers to buy more components from China. Having Canada, Mexico and the U.S. working together is an advantage for the North American auto industry, he says.
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