World Business Report
Canada defiant on Trump car tariffs
Mar 27, 2025
Thomas Philipson, former chair of Donald Trump’s Council of Economic Advisers, discusses the fallout from U.S. tariffs on Canadian car imports. He shares insights on Canada's resilient response to these tariffs and its shifting trade relationships. The conversation touches on the potential financial strain on small businesses and the broader consequences for job security. The discussion also veers into the gaming industry's dynamic landscape, including Tencent's major investment in Ubisoft, highlighting trends and competition among key players.
26:28
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Quick takeaways
- Canadian Prime Minister Mark Carney criticized U.S. car tariffs, highlighting potential destabilization of the long-standing trade relationship between the two nations.
- The intertwined nature of U.S. and Canadian auto industries complicates tariff implementation, causing delays in investment decisions and potential job losses.
Deep dives
Impact of Tariffs on the Auto Industry
The introduction of tariffs by the U.S. government on car imports has raised significant concerns among both American and Canadian auto manufacturers. Canadian Prime Minister Mark Carney has voiced strong opposition to these tariffs, stressing that they could destabilize the long-standing trade relationship between the U.S. and Canada. Business leaders, including the CEO of Ineos Automotive, have indicated that the potential move to domestic production in the U.S. is being considered but will take time due to the complexities involved. There is a collective worry that these tariffs may lead to reduced sales and production, affecting the overall health of the auto industry in North America.
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