Evening Update: With Stellantis deal, Ontario takes on a bigger role in pursuit of domestic EV industry

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Also: Canada posts a surprise $3.4-billion trade deficit for goods, the largest since 2020

After a lengthy standoff between Ontario and auto maker Stellantis, Premier Doug Ford’s government will now take on a major share of subsidies for battery factories being built in the province while putting Ottawa and Queen’s Park into much more of a partnership in their pursuit of a domestic electric-vehicle industry.

Meanwhile, goods exports declined 3.8 per cent due to both falling prices and lower shipments. In volume terms, exports decreased 2.5 per cent. Imports were up 3 per cent overall and 3.5 per cent in volume terms. . to their worst point since the War of 1812, including a period of months where the two countries’ negotiators weren’t even speaking with each other., a memoir by former U.S. trade representative Robert Lighthizer, portrays Canada as an intransigent negotiating partner that often completely refused to engage in substantive talks during the overhaul of NAFTA, renamed the U.S.-Mexico-Canada Agreement by Trump.

 

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