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Politics : Canadian Political Free-for-All
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From: russet10/9/2025 12:29:49 PM
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Globe says Ford hears Lutnick say free trade is toast

2025-10-09 07:02 ET - In the News

See In the News (C-F) Ford CDR (CAD Hedged)

The Globe and Mail reports in its Thursday edition that free trade is a thing of history, and the United States is no longer interested in buying Canadian-made cars, U.S. Commerce Secretary Howard Lutnick told a Toronto audience on Wednesday.

The Globe's Mark Rendell and Stephanie Levitz write that a blunt virtual address to hundreds of Canadian bankers and business leaders at BMO's Eurasia-U.S.-Canada conference, Mr. Lutnick said that U.S. President Donald Trump wants America to assemble all of its own cars, although it will still look to import parts.

Mr. Lutnick said the administration is putting the United States first, but that Canada can still be "second" and benefit from its proximity to the U.S. market in a range of industries. Prime Minister Mark Carney returned from meeting with Mr. Trump in Washington for the second time without a trade deal in hand, highlight the difficult road ahead for key Canadian industries.

Mr. Carney echoed Mr. Lutnick's comments, saying the "remorseless progress" of integrating the North American economy is over, and that "nostalgia isn't a strategy." The U.S. has placed a 25-per-cent tariff on Canadian-made cars with a carve-out for the value of the vehicle made from U.S. parts.
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