Prime Minister Mark Carney has unveiled a plan to bolster Canada’s car industry and support its electric vehicle transition, as the sector buckles under the weight of US tariffs.
The new initiatives, announced on Thursday, mark Canada’s latest effort to reduce its reliance on the US, amid Donald Trump’s push for more domestic car production.
Carney’s strategy includes financial incentives for carmakers to invest in Canada and the reintroduction of rebates for EVs.
Trump last year imposed a 25% tariff on Canadian cars and car parts. The levies were a shock to car production in Canada, where roughly 90% of vehicles are exported to the US.
Like any abusive relationship, it’s never too late to stop or reduce your reliance upon the abusive partner
Trump’s auto manufacturing is in the doldrums, producing at post covid lows. And Trump’s auto loan delinquency rate is running at decades high.
Keep in mind that the autos optimize for units times profit so they don’t necessarily lose money from lower volumes. Ford’s net income for example have remained stable since 2023.
So they’ll start making good cars?
Hopefully that don’t cost more than what most people make in a year.
