63 h. ago Noted economist honoured by Trump warns that 25% tariffs risk ’irreparable damage’ to U.S. automakers

WASHINGTON — Noted economist Arthur Laffer warns in a new analysis that President Donald Trump’s 25% tariffs on auto imports could add $4,711 to the cost of a vehicle and says the proposed taxes could weaken the ability of U.S. automakers to compete with their foreign counterparts. In the 21-page analysis obtained by The Associated […]

Economics

68 h. ago Canada weighs response to Trump’s auto tariffs as Carney meets premiers

Carney, in his role as prime minister, will meet virtually with Canada's premiers Friday to discuss the country's response to Trump's latest duties.

Economics

3 d. ago Stock market today: Asian stocks skid as investors await more Trump tariffs

HONG KONG (AP) — Asian stocks were mostly lower Friday as investors mulled uncertainties brought by U.S. President Donald Trump’s latest tariffs. Tokyo’s benchmark Nikkei 225 sank 2.2% to 36,952.34 on renewed heavy selling of auto-related shares following Trump’s announcement he plans to impose 25% tariffs on auto imports. Toyota Motor Corp. shares lost 2.7% […]

Economics

3 d. ago Gold Rises to Record as Trade War Concerns Drive Haven Demand

Gold rose to a record as concerns about a widening trade war remained front of mind for investors, after President Donald Trump pushed ahead with US tariffs on all auto imports.

Economics

3 d. ago With more than 20,000 employed in the automotive sector here, about 10,000 of those jobs may be lost within weeks of the tariff being charged, said industry observers.

Trump tariffs poised to hammer Canada’s auto industry could slash the London region automotive workforce by half, as the cost of exports to the U.S. will spike, industry observers say. With more than 20,000 employed in the automotive sector here, about 10,000 jobs may be lost within weeks of tariffs being imposed, they said. That […]

Economics

3 d. ago S&P/TSX composite unchanged, U.S. markets down after auto tariff announcement

TORONTO — Canada’s main stock index ended Thursday unchanged from a day earlier, while U.S. markets were down after U.S. President Donald Trump announced plans for auto tariffs. U.S. President Donald Trump announced on Wednesday new tariffs on the auto sector to start next week alongside other previously announced tariffs. Auto industry leaders have warned […]

Economics

3 d. ago Canada’s ‘old relationship’ with U.S. ‘is over’ amid Trump tariffs: Carney

Carney promised to bring retaliatory measures and reduce internal trade barriers after Trump announced new auto tariffs that will begin next week.

Economics

3 d. ago Canada to Unveil Response to US Tariffs Next Week, Carney Says

Prime Minister Mark Carney says Canada will fight back against President Donald Trump’s trade war and his tariffs on the auto sector, but he did not outline any new retaliatory measures against the US on Thursday.

Economics

3 d. ago Latest U.S. auto tariffs a recipe for higher prices, layoffs across North America

TORONTO AND OSHAWA, ONT. — The auto industry is sounding the alarm about U.S. President Donald Trump’s latest tariff announcement, which could weigh on companies, raise consumer prices and result in job losses. Trump announced Wednesday he would impose 25 per cent tariffs on auto imports to the U.S., set to take effect next week. […]

Economics

3 d. ago Canada’s auto sector braces for ‘chaos and damage’ from Trump tariffs

Canadian industry groups have slammed Trump's latest set of tariffs, which will see a 25 per cent tariff imposed on foreign-made cars.

Economics

3 d. ago Trump threatens EU and Canada with more tariffs as U.S. official calls for calm

U.S. President Donald Trump escalated his tariff threats against Canada on Thursday — after a senior White House official cautioned Canadians to hold off on reacting to auto tariffs because relief could be on the way. Trump posted on social media that if “the European Union works with Canada in order to do economic harm […]

Economics

3 d. ago Trump’s auto tariffs hit stock market as GM, Ford fall while Tesla rises

General Motors sank 6.8 per cent for one of the market's sharper losses after Trump announced 25 per cent tariffs on imported cars. Ford Motor dropped 2.2 per cent.

Economics

3 d. ago Latest U.S. auto tariffs major concern for heavily integrated North American sector

The auto industry is sounding the alarm about U.S. President Donald Trump’s latest tariff announcement. Trump announced Wednesday he would impose 25 per cent tariffs on auto imports to the U.S., set to take effect next week. He also said the Detroit Three automakers have to move their parts divisions back to the U.S. Flavio […]

Politics

3 d. ago Canadian government readies response on Thursday to Trump’s auto tariffs

Automobiles and their components are the second largest Canadian export to the United States

Politics

3 d. ago ‘No silver bullet’ and tough days ahead, Carney warns in wake of Trump’s auto tariffs

Automobiles and their components are the second largest Canadian export to the United States

Economics

3 d. ago One in five Americans want their state to join Canada amid escalating trade war: poll

In January, Trump threatened to use "economic force" to annex Canada

Economics

3 d. ago Ferrari Plans to Raise US Prices Up to 10% After Tariffs Hit

Ferrari NV plans to raise prices for some of its cars by as much as 10% to deal with US President Donald Trump’s latest auto tariffs.

Economics

3 d. ago Elon Musk is one of the few winners from Trump’s auto tariffs

Donald Trump’s planned tariffs on auto imports will hurt carmakers around the world and push up prices for U.S. consumers. Among the many losers, one winner stands out: Elon Musk’s Tesla Inc. The electric vehicle maker has large factories in California and Texas that churn out all the cars it sells in the U.S., insulating […]

Economics

3 d. ago Trump auto tariffs announcement causes global markets to fall

In pre-market trading early Thursday, U.S. automaker General Motors Co.'s shares sank 6.5 per cent, while Ford Motor Co. lost 3 per cent.

Economics

3 d. ago Trump’s auto tariffs forces Carney to press pause on election campaign

Liberal Leader Mark Carney is back in Ottawa Thursday to deal with the fallout of new auto tariffs announced by U.S. President Donald Trump. 

Politics