Carney pushes for 'Buy Canadian' policy and pauses EV targets for 2026
Summary
Prime Minister Mark Carney of Canada has paused the requirement for 20% of new car sales to be electric by 2026, and he is promoting a "Buy Canadian" policy. This move aims to deal with the impact of U.S. trade policies, such as tariffs on vehicles and other goods. Canada is also trying to restart trade talks with the U.S., having recently lifted some retaliatory tariffs.Key Facts
- Canada has halted its 2026 goal for 20% of new car sales to be electric vehicles.
- The "Buy Canadian" policy will prioritize Canadian-made goods for federal contracts.
- Canada’s unemployment rose to 7.1% in August 2023, with 66,000 jobs lost mostly in part-time work.
- U.S. tariffs, including a 25% tariff on foreign vehicles, affect Canadian industries.
- Canada and the U.S. are in trade talks, and Canada has removed some retaliatory tariffs.
- A 60-day review of the electric vehicle mandate rules in Canada will happen soon.
- Canada will support canola farmers affected by high tariffs from China.
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