A new 25% tariff on fully-built vehicles and key auto parts by the U.S. government on April 3 could drastically hike car prices in Canada, creasing an estimated rise between $1,000 to $8,000 CAD. Experts warn such tariffs could lead to retaliatory measures from Canada, further inflating prices. The interconnected auto supply chain across North America means increased costs will be felt in both countries, potentially leading to job losses in Canada's auto industry and undoing decades of collaborative progress since the 1965 Auto Pact.
"What we're going to see is prices start to increase in the United States and that's going to have spillover effects here in Canada as well, because the prices will track each other."
"Retaliatory tariffs by Canada would only add to the price increase, according to Mang."
"These changes would also undo the decades of work done since the inception of the 1965 Auto Pact, which sought to build a singular North American auto industry that both countries would benefit from."
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