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As it is, the Canadian economy is likely to grow just 2 per cent next year. goes ahead with a 25-per-cent tariff on cars, Canada would suffer a half a percentage-point hit to GDP growth in 2019 and lose as many one in 10 factory jobs, according to a report this week by Toronto-Dominion Bank. Roughly 80 per cent of the vehicles Canada produces are exported to the United States. There are few better global examples of industries working across borders to create efficient and successful supply chains.īut Canada’s auto sector is now highly vulnerable. The automakers’ silence is sad and cowardly given the long history of cross-border co-operation in the North American automotive sector. President Donald Trump goes ahead with threatened tariffs on cars and parts, also under the pretense of national security? It is not clear whether these companies oppose or support Canada’s right to retaliate against tariffs that were imposed under a dubious U.S.
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The CVMA represents GM and FCA, plus Ford, which did not receive government aid in 2009. It referred inquiries on the matter to the Canadian Vehicle Manufacturers’ Association, which has also declined to release its submission. FCA similarly will not say if it supports or opposes Canada’s tit-for-tat response, which is likely to make it much more expensive to build cars in both countries. investigation that could soon lead to devastating duties on all vehicles and parts.Ĭiting “proprietary information,” GM declined to release its submission to the federal government, which gave companies until last week to comment on planned retaliation against recently imposed U.S. tariffs imposed on steel and aluminum, nor Canada’s move to match them. Officials at both General Motors of Canada Co. Now as Canada’s auto and parts industry is facing another existential threat, these same companies have fallen silent.
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But in the nearly decade since, they have shrunk their presence in Canada, closing assembly lines and failing to award new vehicle models to their remaining plants. GM and FCA have lived up to the terms of the bailouts. Unfortunately, it hasn’t made the automakers any more committed to this country. The infusion of government cash saved roughly 20,000 jobs.
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It’s now apparent that all that money bought some time, but no vows of eternal love. In the years since, Ottawa has given automakers hundreds of millions of dollars more in grants and loans through its Automotive Innovation Fund to encourage investment in Canada. The two governments are still billions of dollars in the hole on the bailouts. The federal and Ontario governments spent $14-billion to save auto giants General Motors and Chrysler (now Fiat Chrysler Automobiles, or FCA) from collapse in 2009. The deafening silence of Canada’s automakers in the face of the escalating trade war with the United States is a sobering reminder that money can’t buy you love.Īnd, apparently, the more money you spend, the less love you get.