Canada's Carney announces retaliatory measures against US autos ...0

With that in mind, Carney isn't in the mood to back down:

Canada will impose 25% tariffs on all vehicles imported from the US that are not compliant with USMCAWill develop framework for auto producers to avoid counter-tariffs, as long as they maintain their production and investment in CanadaTariffs will not affect auto parts and will not affect vehicle content from MexicoEvery single dollar raised -- about $8 billion -- will go to auto workers and affected companiesWe will fight these tariffs until they are removedWe would react energetically to any new US tariffs

He also said that 'previously announced' retaliatory tariffs will remain in effect. Now that's a bit confusing and I'm going to look for clarity because there are $30 billion in tariffs already implemented or the $155 billion that was scheduled for March 25 but were paused until April 2. I'm guessing those are still paused but it's hard to tell right now.

This article was written by Adam Button at www.forexlive.com.

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