President Donald Trump’s vow to bring car manufacturing jobs back to America sounds promising to the CEOs of the big three automakers in the United States. But renegotiation of the trade deals could come at the expense of Canada’s auto sector.
On Global National, economist Isaac Holloway, Assistant Professor in the Business, Economics, and Public Policy group, discussed the negative impact Trump’s policies could have on the auto sectors in both Canada and the U.S.
“Canadian firms and the Canadian industry need to be patient to see what’s on the table, to see where Trump wants to go with this, and act accordingly,” he said.
Lower corporate tax and reduced regulations can benefit the U.S. auto industry, but a crippling border tax will become expensive for global exports.
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