Trump’s tariffs would devastate auto sector, raise consumer costs: industry leaders

📆 25/05/46 11:47 م
📰 CP24

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Auto industry leaders say U.S. president-elect Donald Trump’s threat of tariffs on Canadian goods would have devastating effects for the sector, forcing both Canadian and U.S. consumers to pay higher vehicle prices.

President of the Automotive Parts Manufacturers’ Association Flavio Volpe speaks to the media at the federal cabinet retreat in Montreal on January 23, 2024. THE CANADIAN PRESS/Christinne Muschi

Trump sparked backlash among Canadian business and political leaders after posting to Truth Social on Monday that he will sign an executive order imposing a 25 per cent tariff on all products coming to the United States from Canada and Mexico. “A 25 per cent tariff on all imports from Canada — the largest trading partner of the United States — will negatively impact jobs and livelihoods on both sides of the border across a number of key sectors of our economies. This would also be the case for the automotive industry," said Adams in a statement.

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