Tariffs Would Be Costly Hit to Auto Sector Where Trade Is Balanced: TD Report

Tariffs Would Be Costly Hit to Auto Sector Where Trade Is Balanced: TD Report
A general view of a production line is shown during a tour of a Honda manufacturing plant in Alliston, Ont., on Apr. 5, 2023. The Canadian Press/Cole Burston
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U.S. President Donald Trump’s threatened tariffs on Canadian goods would severely disrupt the Canadian automotive sector where trade is balanced, said a report out Tuesday from TD.

Trump has said he plans to impose 25 percent tariffs on Canadian and Mexican goods as soon as Saturday over what he calls concerns about the trade deficit, along with border issues, and also suggested that U.S. automakers should build their vehicles in Detroit.