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Speaking a few minutes ago, Canada’s prime minister, Mark Carney, called Trump’s new auto tariffs “a direct attack” on the Canadian autoworkers he had addressed earlier in the day in Windsor, Ontario, beside the Ambassador Bridge to Detroit. Carney called the bridge “a symbol and a reality, up until now, of the tight ties between our two countries – ties of kinship, ties of commerce, ties that are in the process of being broken”.
“We will defend our workers, we will defend our companies, we will defend our country and we will defend it together”, Carney said. He promised an autoworkers union he would create a $2bn “strategic response fund” to boost Canada’s auto sector and protect manufacturing jobs.
“President Trump is at it again,” Ontario’s conservative premier Doug Ford wrote on X. “His 25 per cent tariffs on cars and light trucks will do nothing more than increase costs for hard-working American families. U.S. markets are already on the decline as the president causes more chaos and uncertainty. He’s putting American jobs at risk. I’ve spoken with Prime Minister Carney. We agree Canada needs to stand firm, strong and united. I fully support the federal government preparing retaliatory tariffs to show that we’ll never back down.”
Flavio Volpe, the president of the Automotive Parts Manufacturers Association of Canada, commented: “I have never heard something less clear or based in fact in my life. China could only dream of damaging the American auto industry so quickly and so decisively as what Trump is threatening to do here again” .
© 2015 Mutual Fund Observer. All rights reserved.
© 2015 Mutual Fund Observer. All rights reserved. Powered by Vanilla
Comments
These alliances often took decades to build and nurture but Trump has wreaked havoc in just over two months.
It will take significant effort to repair these relationships after the Felonious Skunk leaves office.