"Canadian PM Carney also announced a fund of $5 billion in Canadian dollars ($3.6bn US) to help firms in all sectors hurt by tariffs. Canada will waive a requirement that 20 percent of all vehicles sold next year be emissions-free, part of an aid package designed to help companies deal with damage done by tariffs from United States President Donald Trump."
"The 20 percent target was mandated by the Liberal government of then-Prime Minister Justin Trudeau in 2023. Carney, Trudeau's successor, said waiving the rule would help the industry deal with punitive US measures that are also targeting the steel and aluminium sectors. This will provide immediate financial relief to automakers at a time of increased pressures on economic competitiveness, Carney told a televised press conference."
Prime Minister Mark Carney announced that Canada will waive a requirement that 20 percent of vehicles sold next year be emissions-free, providing immediate financial relief to automakers facing punitive U.S. measures targeting steel and aluminium. Ottawa will set up a C$5 billion fund with flexible terms to help firms across all sectors affected by tariffs and launch a 60-day review to reduce costs linked to the EV sales requirement. The government will introduce a procurement policy favoring Canadian suppliers and more than C$370 million in biofuel production incentives for farmers. China prolonged a probe into Canadian canola imports.
Read at www.aljazeera.com
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