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Canada’s Auto Industry Is Split on a U.S. Tariff Deal: What It Means for Your Wallet

  Canadian Money Brief • Tariffs & Trade • Saturday, November 14, 2026 Ottawa is once again trying to land a tariff deal with Washington. This time, the biggest fight may be inside Canada's own auto industry, and the outcome could reach your paycheque, your car purchase and your savings. Canada's auto manufacturers agree on the goal: get U.S. tariffs on Canadian-built vehicles down. They do not agree on how fast to move or what to accept. According to a Globe and Mail report published overnight, the Detroit Three (Ford, GM and Stellantis) want a deal sooner rather than later, even an imperfect one, while Honda and Toyota are pushing Ottawa toward a very different design. It matters now because of the clock. Canadian-built vehicles already face a 25% U.S. tariff on their non-American content, and Washington has threatened to double the headline rate to 50% on January 1, 2027. Honda has warned that doubling would be catastrophic for the North American industry. Prime Minister...
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Canada Posts $1 Billion Trade Deficit in April

 

Canada recorded a merchandise trade deficit of $1.0 billion in April, according to Statistics Canada. This result follows a revised deficit of $2.0 billion for March, which was initially reported as $2.3 billion.

Here are the key points:

  • Exports:
    • Total exports in April increased by 2.6% to $64.4 billion.
    • Exports of energy products rose by 2.7%, with natural gas exports surging by 60.1%.
    • Crude oil exports also gained 3.0%.
    • Metal and non-metallic mineral products exports rose by 4.7%, driven by unwrought gold, silver, and platinum group metals.
  • Imports:
    • Total imports rose by 1.1% to $65.5 billion in April.
    • Imports of motor vehicles and parts increased by 4.2%.
    • Imports of aircraft and other transportation equipment and parts surged by 23.7%, including the delivery of several ships.
  • Trade in Services:
    • Canada’s monthly international trade in services deficit increased to $1.1 billion in April.
    • Imports of services rose by 1.1% to $18.0 billion, while exports of services remained essentially unchanged at $16.9 billion.
  • Combined Trade Deficit:
    • When goods and services are combined, Canada’s total trade deficit with the world was $2.2 billion in April, compared to $2.9 billion in March.

Economists expect further export gains due to higher oil pipeline capacity and one-off events in the auto sector, while imports may decline due to weak domestic demand and elevated inventory levels.


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