Prime Minister Mark Carney, during his campaign in Windsor, Ontario, announced a plan aimed at protecting the Canadian auto industry from potential U.S. tariffs. This included a proposed fund of 2 billion Canadian dollars to help the industry adapt to a future that may not include the U.S. market. However, his announcement coincided with President Trump's unexpected declaration of a 25 percent tariff on all auto imports, including those from Canada, potentially jeopardizing jobs and economic stability in a sector that is vital to Canada's economy.
Prime Minister Mark Carney proposed a $2 billion fund to reshape Canada's auto industry in anticipation of U.S. tariffs, which directly threaten the $300 million daily exports.
The Canadian auto industry, comprising 10% of manufacturing GDP and supporting 500,000 jobs, faces unprecedented challenges following President Trump's abrupt announcement of steel tariffs.
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