Automotive industry leaders are hoping to see exemptions for vehicles compliant with the current trade deal as Canada and the U.S. continue discussions ahead of the upcoming tariff deadline.
Friday marks the deadline in Canada's trade talks with the U.S., as President Donald Trump has threatened to impose 35 per cent tariffs on a wide variety of Canadian goods if the two countries don't reach an agreement before then.
“I think everybody has seen that the Americans, in spite of the fact that they are fighting us for no reason at all, have shown a tendency to show value for USMCA compliance,” said Flavio Volpe, president of the Automotive Parts Manufacturers’ Association.
He said roughly 50 per cent of the parts that go into vehicles made in Canada come from U.S. factories.
Eby says B.C. insulated from Trump copper tariffs
British Columbia Premier David Eby says an incoming 50 per cent United States tariff on some copper products highlights the need for diversified markets.
He says the tariffs will affect provinces differently, pointing out that most of B.C.'s copper goes to Asia, keeping the province "insulated" from tariff impact.
But he says Ontario and Quebec are "not in a similar" position.
Natural Resources Canada says B.C. accounts for almost 46 per cent of mined copper production in Canada.
The tariffs announced by the White House on Wednesday, that are to come into effect on Friday, appeared to fall short of some market expectations by exempting copper concentrate, anodes and cathodes that make up a large part of Canada's exports.
Picture Courtesy: THE CANADIAN PRESS/Chris Young