Canada faces new auto tariffs; Unifor and GM reach tentative deal

U.S. President Donald Trump announced Monday plans to raise tariffs on Canadian autos and auto parts to 50 per cent starting in January, escalating trade tensions between the two countries. The tariff hike targets a key sector, potentially impacting cross-border supply chains and Canadian manufacturing. The announcement follows ongoing disputes and adds pressure on bilateral trade relations. Unifor and General Motors reached tentative labour agreements over the weekend amid the trade tensions. Separately, the Business Development Bank of Canada plans new initiatives for economic sovereignty after a $6 billion defence platform rollout.