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Economy News

The Economic Times

Economy / The Economic Times

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Automakers thought Canada was getting a trade deal. Then tariffs doubled

Automakers face doubled U.S. tariffs on Canadian vehicles and parts starting January 1. This move significantly increases costs for major manufacturers like Ford and General Motors. The planned 50% levy on Canadian imports rivals existing tariffs on Chinese vehicles. Industry executives express concern over this uneven playing field and supply chain disruption. However, some hope a resolution will be reached before the deadline.

27 Aug 2026 9:52 am