What does Japan’s tariff deal with the U.S. mean for Canada?
The big three automakers are not happy. They say a deal that charges lower tariffs on Japanese imports than on North American cars with high American content is a bad deal. CTV News caught up with the Canadian Automobile Dealers Association in between meetings on Capitol Hill. Hugh Williams has logged more than 30 with lawmakers and the US administration and is feeling encouraged about a trade deal, but not for the August 1st deadline. Senior senators uh you know have given us uh the the pathf finding that they’re optimistic that we’re going to have some framework of a deal that will resolve the trading problems between our nations ideally uh by Labor Day. He says it would be unreasonable for Canada to have an agreement that looks worse than the new US Japan deal that sees auto tariffs cut to 15% from 27.5. That deal has a lot of attention in the uh Senate and uh uh congressional uh leaders that we’ve been talking to. And I think that the the prevailing view is that Canada should have a better deal. President Trump is finally putting a stop to our country getting ripped off. But this week, as a result of Trump’s tariffs, General Motors reported a 35% decline in second quarter profits with more hard times ahead. And Stalantis a 2.7 billion net loss in the first half of the year. We’re down about 30% in exports already this year from Canada uh in vehicles. Flavio Vulp says he’s taken a back by the 15% the Japanese agreed to and it wouldn’t work for Canada. It’s a bad deal. better to slog it out than to lock in bad terms uh in the long term. But it’s still a good valuable piece of insight into what we might what might be achievable and what’s the US kind of baseline minimum tariff that that might have to stick. And this afternoon, multiple reports that the European Union is heading towards a similar tariff deal with the US than Japan with a 15% tariff on imported EU goods into the United States, including cars.
A Canadian auto industry expert says it would be unreasonable for Canada to have a trade agreement with the U.S. worse than Japan’s. Abigail Bimman explains.
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27 Comments
It means carney failed again.
Japan will invest $550 billion, mostly in LNG in Alaska. S. Korea admin. is in the USA to make a deal, and what is Carney doing?
Deal will be the same if Carney gets off his ass
High interest rates and taxes is bigger problem than tariffs !
Mark carney has to go he is weak 😢 I have not had a steak 🥩 in years I can’t find a family doctor for 3 years now I’m moving to Florida soon
Whats Canada’s GDP vs Japan? Or Canada vs India? 😂😂😂😂😂
Trump lowers existing auto tariffs on Japan. What an incredibly stupid deal.
Means. Our country for 8 months didn't do very much. Except talk everything to death and did nothing like usual with their indecisiveness.
So if trade negotiations fail on September 1st that means Doug ford shutting off power?
It means Canada is being replaced.
Bad news for canada. We dont need your cars. We have japan
Its useless talk to Senators, nothing they can do about it. Its all an executive branch move. These tariffs bypass them anyway. So they have no say.
America is tired of Canada mooching
Canadians 4 51st state
wtf does this clown mean by "Tariff Deal". Trade deals take months to work out the legal terms etc. This clown just makes up a random number and throws it out as a tariff percentage on a random country then when the country settles on half of that it is considered a "deal"?
Nothing
It shows the elbow up stooges haven’t done anything but talk and spend money
Once again and again and again Trump wins and Canada losses .. but if you ask liberals they will tell you that our “ phone is ringing off the hook” !!!!!! Ya from the collection department from Canadians being pushed into record debt.. what a joke Canada has become . I’ve stop admitting to being Canadian it’s over 6 years now
Price of truck 90-120k this was before tarriffs
Reminder. Green cars failed. Ontario invested 400 billion in it. So taxpayers lost that.
Also 300 billion lost in green energy solar wind battery
So Taxpayers lost 700 billon in total thanks to LIBERALS. Green nonsense.
Ford lightning was a flop. All the money put into making GREEN cars was lost
This is all cover. Its all a cover up. Never is the government accountable or responsible.
Scapegoat is always found .
Epstein files are where
Who was responsible for Covid.
700 Billion lost on green energy projects since 2020.
That would solve the homeless issue in Canada fyi. That would solve the Healthcare problems and mental health issues also.
Federal Healthcare budget is This year alone, provinces and territories are receiving $52.1 billion from the federal government through the CHT, the largest amount in history.
Build in USA and avoid tariffs.
Scrapped: How nearly $150 billion worth of energy projects have been shelved in Canada
A look at some of the major energy projects over the past few years that never saw the light of day
2020.
Add the last 5 years also its over 300 billion.
Going to be a long winter Canada. You better stock up.
Thank trump for the losses. Tariffs are not free trade.
Elbows up 😂
Electing the same political party leaders over and over and expecting different results.
Liberal government all talk no action for 11 years and counting