Tertius News is an AI-native newsroom: an AI model reads the linked source articles below and extracts what each outlet reported, so you can compare their coverage side by side. How this works →
US-Canada trade war heats up as Trump threatens to hike auto tariffs
President Donald Trump has threatened to raise US tariffs on Canadian cars, trucks, and auto parts from 25% to 50% starting in January, following the collapse of trade talks. Prime Minister Mark Carney called the deal on the table a 'bad deal' and said Canada is ready to resume talks if the US returns with the 'right attitude'. Retaliatory tariffs and market fallout are underway.
President Donald Trump has threatened to raise US tariffs on Canadian automobiles, trucks, and auto parts from 25% to 50% as of January 1, escalating a trade dispute that has intensified following the collapse of US-Canada negotiations late last week. The breakdown occurred moments before a US-imposed deadline that would have added a 50% levy on nearly $20 billion (C$28 billion) of Canadian imports, as reported by BBC News.
Canadian Prime Minister Mark Carney called the latest tariff threat unsurprising and accused the president of wanting to destroy Canada's auto industry. He said Canada is ready to resume talks if the US comes with the "right attitude." Carney described the deal on the table as a "bad deal," reiterating that the terms presented by the US would not have benefited Canadians.
Accusations and Counter-Accusations
Each side blames the other for the collapse. Canadian officials said the US introduced last-minute demands that were "unacceptable," including a clause limiting which countries Canada could sign trade deals with. US Trade Representative Jamieson Greer said "They wanted more," in an interview with CNBC, a claim also reported by CBC News. Vice President JD Vance accused Canada of coming in with "a bunch of unreasonable last-minute demands" and urged Carney to "stop taking advantage of America."
Trade Minister Dominic LeBlanc said there was no "deal or offer that was in the economic interests of Canada," citing concerns about tariff treatment for Canadian auto parts and vehicles. LeBlanc also said the Americans sought last-minute changes that would restrict Canada's ability to pursue free-trade deals with other countries.
Details of the Breakdown
CBC News reported that negotiators had made progress in recent weeks, but the momentum reversed. Flavio Volpe, president of Canada's Automotive Parts Manufacturers' Association, said that after negotiators agreed in spirit, the text didn't match what was discussed. According to CBC, American negotiators initially agreed to drop the headline tariff on Canadian autos from 25% to 15%, but the US planned to exclude medium- and heavy-duty trucks, leaving out pickup trucks—a move Carney called a "big change" to the terms. The exclusion would have severely impacted roughly 20,000 workers at Ontario plants building Ford F-Series pickups and GM Silverados.
The Americans also pushed back on Canadian requirements for bilingual product labelling, a claim Greer dismissed as a "funny, fake story." Carney insisted it was a fact. LeBlanc said it was the "cumulative total of a series of things" that led to the decision.
Carney and Ford: Diverging Tone
Carney, speaking in Lévis, Quebec, on Monday, sounded determined, describing the US administration's intent as "malevolent" and "destructive." He put the onus on the US to return to the table with the "right attitude." Ontario Premier Doug Ford was more blunt, telling Trump to "kiss my ass" and calling him a "dictator" and the "king of bankruptcies." Trump responded on Truth Social, accusing Ford of "bluster" and writing, "Someone should get these clowns to fall in line."
Ford also suggested Canada should charge the US extra for oil, gas, electricity, and critical minerals, though Carney did not echo that call. Alberta Premier Danielle Smith said cutting off energy exports is not viable. Carney said Canada's countertariffs won't target Republican jurisdictions.
Market and Economic Impact
Shares of Canadian auto parts companies plunged on Monday, as reported by The Globe and Mail. Martinrea International Inc. slumped 9.7% to $10.11, Linamar Corp. fell more than 8% to $99.62, and Magna International Inc. shed more than 6.5% to close at $93.85. Ford Motor Co. and Stellantis NV shares fell more than 3%, while General Motors slipped 1%. Canada supplies about 13% of total US auto and parts imports, and roughly US$45 billion of US imports of Canadian autos and parts could be affected.
Flavio Volpe warned that the new tariffs could cause huge disruptions, writing on X: "Playing a game of chicken with a mirror is a fool's errand. Only China auto wins." Analysts, however, expressed hope the US could walk back some threats, with one, Narayan, viewing Monday's announcement "as a negotiating tactic rather than imminent policy."
Retaliatory Measures and Political Reactions
Canada is set to announce retaliatory tariffs against the US on Tuesday, according to multiple sources cited by BNN Bloomberg. The Department of Finance said four ministers, including Finance Minister François-Philippe Champagne and Jobs Minister Patty Hajdu, will announce the measures Tuesday morning. The federal government is also expected to expand Employment Insurance to help workers impacted by US tariffs.
Conservative leader Pierre Poilievre called for Carney to reconvene Parliament, and Conservatives demanded the release of details of the US trade offer. Shuvaloy Majumdar wrote a letter to LeBlanc demanding the draft text be released. Political scientist Lori Turnbull said it's unlikely Carney will release details.
Broader Context and Perspectives
The trade war has raised questions about the future of the USMCA trade pact. During a mandatory review this summer, both Canada and Mexico said they want the USMCA extended for another 16 years, while the US said it will not renew it in its current form, as reported by BBC News.
Mexico's President Claudia Sheinbaum expects to reach a trade agreement with the US. Meanwhile, US governors expressed concern: Michigan Gov. Gretchen Whitmer said residents are "uniquely impacted," and New York Gov. Kathy Hochul said Trump was "needlessly picking fights."
In Canada, provincial leaders voiced support for holding firm. B.C. Premier David Eby said Canada needs to "hit back" and "we will never be the 51st state." New Brunswick Premier Susan Holt said New Brunswickers want the best deal, not just any deal. Manitoba Premier Wab Kinew said he thought Canada could push for a better deal.
Business groups on both sides warned of the consequences. Ryan Mallough of the Canadian Federation of Independent Business said a third of exporting members could lose half their revenue. Jen Riley of the B.C. Chamber of Commerce said job losses are "inevitable." Unifor called Trump's move an "intimidation tactic." Former prime minister Jean Chrétien suggested Canada should impose an export tax on energy, oil, natural gas, and potash, while Erin O'Toole cautioned against using energy as retaliation.
Some commentators saw the breakdown as regrettable but preferable to a bad deal. John Cuddihy said "no deal is better than a bad deal," while trade lawyer Jacques Shore warned Canada to be careful not to let emotions get in the way. Former White House official Larry Haas said the trade war "makes no sense," and Drew Fagan said the US "broke its word" and Canada was right to impose counter-tariffs.
Looking Ahead
Carney announced C$11 billion in funding to build six icebreakers at a Quebec shipyard for the Canadian Coast Guard, a project Quebec Premier Christine Fréchette called the fruit of years of work. He also indicated he is prepared to help Canadian businesses withstand a trade war, with a tariff-relief plan expected this week. National Bank economists noted that Canadian retaliation is not expected before early September, providing a window for potential de-escalation.
The Canadian dollar fell to US72.27 cents, and the US anthem was booed at a Vancouver soccer game. University of Calgary economist Trevor Tombe estimated 87,000 Canadian jobs could be at risk. The future direction of the trade relationship remains uncertain, with both sides holding firm.
How each outlet told it
BBC — World
Framing: Emphasizes the escalation of the trade war, focusing on Trump's tariff threat on autos, leaving out Canada's retaliatory plans and the wider context of the talks' collapse. — Measured, reporting the sequence of events and quotes without strong emotional language; a neutral description of the 'war of words'.
Facts Included:
Trump threatened to hike US tariffs on Canadian automobiles and auto parts from 25% to 50% as of 1 January.
US-Canada trade talks collapsed late last week, with each side accusing the other of making unreasonable last-minute demands.
Prime Minister Mark Carney called Trump's latest levy threat unsurprising and accused the president of wanting to destroy Canada's auto industry.
Canada is ready to resume talks if the US comes with the 'right attitude'.
Canada walked away from trade negotiations late Friday night, moments before a US-imposed deadline that would add a 50% levy on nearly $20bn (C$28bn; £14bn) of Canadian imports.
Canadian officials said the US introduced last-minute demands that were 'unacceptable', including a clause limiting which countries Canada could sign trade deals with.
US Trade Representative Jamieson Greer said 'They wanted more' in an interview with CNBC.
Carney declared the country would counter Trump's levies with reciprocal tariffs on US goods 'dollar for dollar'.
Carney announced funding of C$11bn ($7.95bn; £5.83bn) to build six icebreakers at a Quebec shipyard for the Canadian Coast Guard.
Ontario Premier Doug Ford told Trump to 'kiss my ass'.
Ford suggested Canada should charge the US extra for oil, gas, electricity, and critical minerals.
Trump accused Ford of 'bluster' and wrote 'Someone should get these clowns to fall in line' on Truth Social.
Canada accounts for 60% of total US crude oil imports and close to 100% of US natural gas exports, according to Canadian government data.
Businesses on both sides warned they stand to be hurt by the new wave of US tariffs.
In Portland, Oregon, owners of Paloma Clothing said the price of Canadian-made pillows could shoot up by around 50% to $90.
Framing: Emphasizes the heating up of the trade war, focusing on Trump's tariff threat, similar to the other BBC article, but also includes the phrase 'US-Canada' instead of just 'Canada'. — Measured, reporting events with a neutral tone, similar to the first BBC piece, but with added context on the trade pact.
Facts Included:
Trump threatened to hike US tariffs on Canadian automobiles and auto parts from 25% to 50% as of 1 January.
US-Canada trade talks collapsed late last week, with each side accusing the other of making unreasonable last-minute demands.
Carney called Trump's latest levy threat unsurprising and accused the president of wanting to destroy Canada's auto industry.
Canada is ready to resume talks if the US comes with the 'right attitude'.
Canada walked away from trade negotiations late Friday night, moments before a US-imposed deadline that would add a 50% levy on nearly $20bn (C$28bn; £14bn) of Canadian imports.
Canadian officials said the US introduced last-minute demands that were 'unacceptable', including a clause limiting which countries Canada could sign trade deals with.
US Trade Representative Jamieson Greer said 'They wanted more' in an interview with CNBC.
Carney declared the country would counter Trump's levies with reciprocal tariffs on US goods 'dollar for dollar'.
Carney announced funding of C$11bn ($7.95bn; £5.83bn) to build six icebreakers at a Quebec shipyard for the Canadian Coast Guard.
The icebreakers will be used to open winter shipping routes through Canada's northern and Atlantic waters.
Ontario Premier Doug Ford told Trump to 'kiss my ass'.
Ford suggested Canada should charge the US extra for oil, gas, electricity, and critical minerals.
Trump accused Ford of 'bluster' and wrote 'Someone should get these clowns to fall in line' on Truth Social.
Canada accounts for 60% of total US crude oil imports and close to 100% of US natural gas exports.
Businesses on both sides warned they stand to be impacted by the new wave of US tariffs.
The trade war put into question the future of the USMCA trade pact.
During a mandatory review this summer, both Canada and Mexico said they want the USMCA extended for another 16 years.
The US said it will not renew the USMCA in its current form.
Framing: 'Trade war heats up. Live updates here.' Emphasizes the ongoing escalation and positions the article as a live blog, suggesting immediacy and continuous development. — Alarmed and confrontational, with quotes from Ford using strong language like 'dictator' and 'king of bankruptcies,' and headlines like 'Trade war heats up.'
Facts Included:
Carney says terms presented by the U.S were a ‘bad deal.’
Trump threatens to increase auto tariffs to 50%.
Trump and Ford get into heated exchange: ‘King of bankruptcies.’
50% tariffs on roughly $28B in Canadian goods are now in effect.
Carney reiterated that the U.S. deal on the table would not have benefited Canadians, calling it a 'bad deal.'
Carney said officials will resume talks when American counterparts have 'the right attitude.'
Trump announced he will increase tariffs on all cars, trucks, automotive parts, and steel to 50% on New Year's Day in a Truth Social post.
LeBlanc said there was no 'deal or offer that was in the economic interests of Canada.'
LeBlanc cited concerns about tariff treatment for Canadian auto parts and vehicles.
LeBlanc said the Americans sought last-minute changes that would restrict Canada's ability to pursue free-trade deals with other countries.
Ford slammed Trump as a 'dictator' and the 'king of bankruptcies.'
Trump referred to Ford as 'the less charismatic, intelligent, and overall unimpressive brother of the late, great, Rob Ford.'
Ford said he is reaching out to governors and senators and telling Americans not to vote in a person that will kill jobs.
Ford called on the federal government to eliminate federal greenhouse gas emission standards for Canadian-made vehicles.
Ford said 'He can kiss my ass' to Newstalk 580 CFRA.
Ford said he is considering putting an export tariff on electricity.
Vance said negotiations are ongoing and that Canada came in with 'a bunch of unreasonable last-minute demands.'
New Brunswick Premier Susan Holt said New Brunswickers want the best deal, not just any deal.
Greer called language-centred trade issues a 'funny fake story' and said the real issue was Canada's push for streamers to pay for content.
B.C. Premier David Eby said Canada needs to 'hit back' and 'we will never be the 51st state.'
B.C. Minister Brenda Bailey defended walking away from talks and said it's going to be rough.
Greer said Canada ultimately wanted more than Washington was willing to offer.
Mexico's Claudia Sheinbaum expects to reach a trade agreement with the U.S.
Larry Haas, former White House official, said the trade war 'makes no sense.'
Tabatha Bull said the U.S. wanted more control over Canada's trade relationships.
Candace Laing said trade talks won't resume 'anytime soon.'
Flavio Volpe said tariffs would be 'chiefly damaging' to U.S. auto assembly.
James Moore described the situation as a 'chaos zone.'
John Cuddihy said the breakdown was 'regrettable' but 'no deal is better than a bad deal.'
Trade lawyer Jacques Shore said Canada has to be careful not to let emotions get in the way.
Scott Reid said the 'first shots fired' are happening.
Michigan Gov. Gretchen Whitmer said residents are 'uniquely impacted.'
New York Gov. Kathy Hochul said Trump was 'needlessly picking fights.'
Unifor said Trump's latest move is an 'intimidation tactic.'
Ford said Reagan would be 'throwing up on' Trump over trade.
Toronto Mayor Olivia Chow said tariffs are 'going to hurt' but the city is resilient.
Erin O'Toole cautioned against using energy as retaliation.
Ryan Mallough of CFIB said a third of exporting members could lose half their revenue.
Jean Chrétien said Canada should impose an export tax on energy, oil, natural gas, and potash.
Greer downplayed the fallout as a 'tempest in a teapot.'
Drew Fagan said the U.S. broke its word and Canada was right to impose counter-tariffs.
Dennis Darby said manufacturing investments dropped by a third.
Pierre Poilievre called for Carney to reconvene Parliament.
The loonie fell to US72.27 cents.
U.S. anthem was booed at a Vancouver soccer game.
University of Calgary economist Trevor Tombe estimated 87,000 Canadian jobs could be at risk.
Lisa Raitt hoped Carney would brief opposition members.
Conservatives called for the release of the U.S. trade offer details.
Shuvaloy Majumdar wrote a letter to LeBlanc demanding the draft text be released.
Lori Turnbull said it's unlikely Carney will release details.
B.C. Chamber of Commerce's Jen Riley said job losses are 'inevitable.'
Eastern Canadian premiers renewed pleas to buy local.
A Minnesota school faces a $7K spike in price for a mascot costume.
Framing: 'Canada tariffs against the U.S. on Tuesday, sources say' - Leads with Canada's upcoming retaliatory action, emphasizing the next step in the trade war, and highlighting the story's newsworthiness. — Alarmed and brisk, with a focus on swift action and reactions, using phrases like 'fires back' and 'heated exchange.'
Facts Included:
Canada will announce retaliatory tariffs against the U.S. Tuesday: sources
Carney says terms presented by the U.S were a ‘bad deal.’
Trump fires back, threatens to increase auto tariffs to 50%.
Trump and Ford get into heated exchange: ‘King of bankruptcies.’
50% tariffs on roughly $28B in Canadian goods are now in effect.
On Monday evening, the Department of Finance said four ministers including Finance Minister François-Philippe Champagne will announce the measures Tuesday morning.
Among those present will be Jobs Minister Patty Hajdu.
One source tells CTV News in addition to retaliatory tariffs, the federal government will announce an expansion of Employment Insurance (EI) to help domestic workers impacted by U.S. tariffs.
The premiers are also expected to be briefed on a call on the same day.
Carney said in French that the terms presented by the U.S were a 'bad deal.'
Carney said officials will resume talks when American counterparts have 'the right attitude.'
Trump announced he will increase tariffs on all cars, trucks, automotive parts, and steel to 50% on New Year's Day in a Truth Social post.
LeBlanc said there was no 'deal or offer that was in the economic interests of Canada.'
LeBlanc cited concerns about tariff treatment for Canadian auto parts and vehicles.
LeBlanc said the Americans sought last-minute changes that would restrict Canada's ability to pursue free-trade deals with other countries.
Ford slammed Trump as a 'dictator' and the 'king of bankruptcies.'
Trump referred to Ford as 'the less charismatic, intelligent, and overall unimpressive brother of the late, great, Rob Ford.'
Ford said he is reaching out to governors and senators and telling Americans not to vote in a person that will kill jobs.
Ford called on the federal government to eliminate federal greenhouse gas emission standards for Canadian-made vehicles.
Ford said 'He can kiss my ass' to Newstalk 580 CFRA.
Ford said he is considering putting an export tariff on electricity.
Vance said negotiations are ongoing and that Canada came in with 'a bunch of unreasonable last-minute demands.'
New Brunswick Premier Susan Holt said New Brunswickers want the best deal, not just any deal.
Greer called language-centred trade issues a 'funny fake story' and said the real issue was Canada's push for streamers to pay for content.
Alberta Premier Danielle Smith and Doug Ford discussed the trade war, with Smith saying cutting off energy exports is not viable.
B.C. Premier David Eby said Canada needs to 'hit back' and 'we will never be the 51st state.'
B.C. Minister Brenda Bailey defended walking away from talks and said it's going to be rough.
Greer said Canada ultimately wanted more than Washington was willing to offer.
Mexico's Claudia Sheinbaum expects to reach a trade agreement with the U.S.
Larry Haas, former White House official, said the trade war 'makes no sense.'
Tabatha Bull said the U.S. wanted more control over Canada's trade relationships.
Candace Laing said trade talks won't resume 'anytime soon.'
Flavio Volpe said tariffs would be 'chiefly damaging' to U.S. auto assembly.
James Moore described the situation as a 'chaos zone.'
John Cuddihy said the breakdown was 'regrettable' but 'no deal is better than a bad deal.'
Trade lawyer Jacques Shore said Canada has to be careful not to let emotions get in the way.
Scott Reid said the 'first shots fired' are happening.
Michigan Gov. Gretchen Whitmer said residents are 'uniquely impacted.'
New York Gov. Kathy Hochul said Trump was 'needlessly picking fights.'
Unifor said Trump's latest move is an 'intimidation tactic.'
Ford said Reagan would be 'throwing up on' Trump over trade.
Toronto Mayor Olivia Chow said tariffs are 'going to hurt' but the city is resilient.
Erin O'Toole cautioned against using energy as retaliation.
Ryan Mallough of CFIB said a third of exporting members could lose half their revenue.
Jean Chrétien said Canada should impose an export tax on energy, oil, natural gas, and potash.
Greer downplayed the fallout as a 'tempest in a teapot.'
Drew Fagan said the U.S. broke its word and Canada was right to impose counter-tariffs.
Dennis Darby said manufacturing investments dropped by a third.
Pierre Poilievre called for Carney to reconvene Parliament.
The loonie fell to US72.27 cents.
U.S. anthem was booed at a Vancouver soccer game.
University of Calgary economist Trevor Tombe estimated 87,000 Canadian jobs could be at risk.
Lisa Raitt hoped Carney would brief opposition members.
Conservatives called for the release of the U.S. trade offer details.
Shuvaloy Majumdar wrote a letter to LeBlanc demanding the draft text be released.
Lori Turnbull said it's unlikely Carney will release details.
B.C. Chamber of Commerce's Jen Riley said job losses are 'inevitable.'
Eastern Canadian premiers renewed pleas to buy local.
A Minnesota school faces a $7K spike in price for a mascot costume.
Framing: The headline asks 'What we know about how the Canada-U.S. trade talks fell apart,' focusing on the breakdown's causes, suggesting an investigative approach. — Investigative and explanatory, providing detailed background and quotes from multiple sources.
Facts Included:
Carney said the U.S. demanded terms that would 'destroy' big Canadian industries including auto, steel and aluminum.
Carney made the comment while facing calls from Conservatives to reveal details of the proposed deal.
Carney said 'We did make some progress in recent weeks... In the end, that momentum reversed and we could not accept what the U.S. had offered.'
VP JD Vance accused Canada of 'a bunch of unreasonable last-minute demands' and urged Carney to 'stop taking advantage of America.'
The federal government won't publicly reveal details of negotiations.
Ontario Premier Doug Ford called it a 'bad deal' and said he's glad Carney didn't sign.
Flavio Volpe said after negotiators agreed in spirit, the text didn't match what was discussed.
U.S. Commerce Secretary Howard Lutnick expressed dissatisfaction and pushed for the U.S. to do better.
American negotiators initially agreed to drop the headline tariff on Canadian autos from 25 to 15 per cent.
A source said American auto content would be exempt, reducing that tariff rate by up to half.
The sector had been pushing for an exemption for Canadian-made auto content, which the U.S. didn't agree to.
The U.S. planned to exclude medium- and heavy-duty trucks, leaving out pickup trucks.
Ford's F-Series pickups and GM Silverado are made at Ontario plants and roughly 20,000 workers would have been severely impacted.
Carney called that exclusion a 'big change' to the terms.
The Americans tried to restrict Canada's ability to strike trade deals with other countries.
Trade Minister Dominic LeBlanc said the U.S. wanted a word in sovereign decisions.
The U.S. wanted Canada to apply sectoral tariffs primarily on steel and aluminum to its trading partners.
Carney said there 'wasn't enough movement' on American tariff relief for steel, aluminum and derivative products.
Sources said the U.S. planned to reduce 50 per cent tariffs on Canadian steel and aluminum to 25 per cent.
Washington was talking about dropping a 10 per cent Section 232 tariff on Canadian softwood lumber by Sept. 1.
Carney said the Americans pushed against Canadian requirements for bilingual product labelling.
Greer dismissed the labelling claim, calling it a 'funny, fake story.'
Carney fired back saying it's a fact.
The Americans took issue with Canadian rules ensuring French-language content on streaming platforms.
LeBlanc said it was the 'cumulative total of a series of things' that made Carney decide.
Concessions Canada was willing to make included dropping retaliatory tariffs, returning American alcohol, ending procurement policies, and adjusting dairy import licenses.
Manitoba Premier Wab Kinew said he thought Canada could push for a better deal.
Chrystia Freeland told Bloomberg a 'bad outcome' would be Canada accepting a deal with permanent sectoral tariffs.
Steve Verheul warned Canada would be giving up most of its leverage.
LeBlanc said Carney has been clear that the American tariffs are...
Framing: Focuses on Carney's stance, describing him as 'digging in' for the trade war, emphasizing his defiance rather than the specifics of the tariff threats. — Analytical and somewhat sympathetic to Carney's position, using phrases like 'digging in' and 'fighting words' to describe his approach.
Facts Included:
Trump posted a threat to impose 50-per-cent tariff on all Canadian cars.
VP JD Vance was at a rally in Maine joking about Canada being a state.
Transportation Secretary Sean Duffy predicted a weak Canada would rush negotiators back to the table.
Carney spoke in Lévis, Que. on Monday, sounding like he was digging in.
Carney described the U.S. administration's intent as malevolent and destructive.
Carney called the Trump administration's reaction to the breakdown of talks 'very revealing'.
Carney said the negotiations showed the U.S. wanted to 'destroy' Canada's key auto, steel and aluminum industries.
Carney put the onus on the U.S. to return to the table with the 'right attitude'.
Doug Ford commented that Trump can 'kiss my ass'.
Ford called for cutting off oil supply, but Carney did not echo that.
Carney said Canada's countertariffs won't target Republican jurisdictions.
Carney described American negotiators as wanting to tie Canada's hand, kill French-language labelling requirements, and treat Canada as a vassal.
Carney announced an $11-billion contract with the Davie shipyard to build icebreakers.
The icebreaker deal was according to Quebec Premier Christine Fréchette, the fruit of years of work.
The icebreaker deal was a symbol of the kind of thing Carney's government promises.
Ford was talking about compensation and federal support for his province's hardest-hit sectors.
Fréchette is about to lead an autonomist government into an election campaign.
Framing: Focuses on the market impact (auto parts shares slide) and industry warnings, emphasizing the economic consequences rather than the political back-and-forth. — Analytical and concerned, quoting industry figures and analysts to underscore the uncertainty and potential damage.
Facts Included:
Shares of Canadian auto parts companies plunged on Monday.
Martinrea International Inc. shares slumped 9.7% to $10.11.
Linamar Corp. fell more than 8% to $99.62.
Magna International Inc. shed more than 6.5% to close at $93.85.
Martinrea, Linamar and Magna are Ontario's three largest publicly traded auto-parts suppliers.
The agreement collapsed shortly before a midnight deadline, after Canada objected to U.S. demands including exports of Canadian trucks.
Ontario Premier Doug Ford and industry figures pushed Carney to get a better deal on steel and autos.
Trump said he will raise tariffs on Canadian auto imports to 50% and start tariffing auto parts on Jan. 1, 2027.
Those tariffs would be in addition to 50-per-cent tariffs on $28-billion worth of Canadian goods that came into effect on Saturday.
Flavio Volpe said the new tariffs could cause huge disruptions.
Volpe wrote 'Playing a game of chicken with a mirror is a fool’s errand. Only China auto wins.'
Ford Motor Co. and Stellantis NV shares fell more than 3%, General Motors slipped 1%.
Canada supplies about 13% of total U.S. auto and parts imports, and roughly US$45-billion of U.S. imports of Canadian autos and parts could be affected.
A 50-per-cent levy on autos would lift the effective U.S. tariff rate on Canadian goods to 6.5%.
About 20% to 25% of Magna's parts exposure could be subject to a 50-per-cent tariff.
Exco Technologies partly attributed weaker financial results to the negative impact of 'U.S. tariff related disruptions.'
Exco shares slipped more than 3% to close at $8.36.
Brian Kingston urged negotiators to get back to the table.
Analysts said they hold out hope the U.S. could walk back some threats.
Narayan viewed Monday's announcement 'as a negotiating tactic rather than imminent policy.'
Carney indicated he is prepared to help Canadian businesses withstand a trade war, with a tariff-relief plan expected this week.
National Bank economists took comfort from the fact that Canadian retaliation is not expected before early September.
Each row is one claim, attributed to the outlet whose wording states it most clearly. Confidence rates how directly the source text states the claim — explicit and unhedged rates high; hedged, pieced-together, or internally inconsistent statements rate lower. It does not measure whether the claim is true. Status counts the distinct outlets we found asserting it — so a single-source claim can still show high confidence, and a multi-source claim can show medium. Every one of those outlets is named beside the status, so you can check the count against the list. For claims extracted before we began storing that list, the row says so: it names the outlet the claim is quoted from and states that we have not recorded which outlets backed it. Outlets wrote at different times, so a figure that evolves — a casualty count, for example — can legitimately differ between rows; check the "as of" time next to each claim's source.
Claim
Confidence
Status
ClaimDonald Trump threatened to increase tariffs on Canadian cars, trucks, auto parts, and steel from 25% to 50% as of 1 January.
ClaimCanada walked away from trade negotiations late Friday night, moments before a US-imposed deadline that would add a 50% levy on nearly $20bn (C$28bn; £14bn) of Canadian imports.
ClaimCanadian officials said the US introduced last-minute demands that were 'unacceptable', including a clause limiting which countries Canada could sign trade deals with.
ClaimCanada supplies about 13% of total U.S. auto and parts imports, and roughly US$45-billion of U.S. imports of Canadian autos and parts could be affected.
ClaimCarney said one of the main reasons he walked away from a deal with the Trump administration is because Washington demanded terms that would 'destroy' big Canadian industries including the auto, steel and aluminum sectors.
ClaimConcessions Canada was willing to make included dropping retaliatory tariffs, returning American alcohol, ending procurement policies, and adjusting dairy import licenses.
ClaimOn Monday evening, the Department of Finance said four ministers including Finance Minister François-Philippe Champagne will announce the measures Tuesday morning.
ClaimOne source tells CTV News in addition to retaliatory tariffs, the federal government will announce an expansion of Employment Insurance (EI) to help domestic workers impacted by U.S. tariffs.