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Canada is considering supporting car companies in response to the US threat to impose customs dutie

rocky
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customs -  Canada is considering supporting car companies in response to the US threat to impose customs dutie Empty Canada is considering supporting car companies in response to the US threat to impose customs dutie

Post by rocky on Tue 19 Jun 2018, 4:19 am

Canada is considering supporting car companies in response to the US threat to impose customs duties






2018/06/19 01:10


(Encyclopedia of this day , news | News Iraq  ) -

Canada is considering all options, including providing financial aid to the automotive sector to adapt to potential US tariffs, a senior federal minister said.

This comes despite officials expressing doubts that Washington might carry out its threat to impose punitive measures.

US President Donald Trump said last month he could lend customs duties of up to 25 percent on cars manufactured overseas, which could cause serious economic damage to Canada.

"We're looking at all the options ... Our vision is that if we take any action of this kind, we will support our workers," Innovation Minister Navdeep Baines said in an interview with Reuters.

"The message I am sending to the automotive sector is that we are ready to defend you."

Such a subsidy bill could amount to billions of dollars depending on the amount of government support for the sector, which employs some 500,000 people directly and indirectly and contributes about 80 billion Canadian dollars (60.5 billion US dollars) a year to the economy.

Note: The content (Canada is considering supporting car companies in response to America's threat to impose customs duties) was first published on Al-Ghad website and the encyclopedia of this news day is not guaranteed in any way. 
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