Canada signs a deal with South Korea to start moving automobile production to Canada. Hyundai currently has a 12% share in Canada, but produces no vehicles there. Now they’re looking around, and finding a stable government with understandable policies.
Canada Signs Auto Deal With South Korea, Moving Further From the U.S.
Canada, facing U.S. tariffs that threaten its auto industry, announced on Thursday an agreement with South Korea to explore bringing Korean automotive manufacturing to the country.So much winning! If this ain’t a macro economic trend I don’t know what is.Though scant on details, the accord was another move by Prime Minister Mark Carney to diversify Canada’s trade away from the United States in response to Mr. Trump’s volley of tariffs.
The agreement also fits with Mr. Carney’s widely hailed call at the World Economic Forum last week for middle power nations to band together after what he characterized as an irreversible “rupture” to the world order by Mr. Trump’s aggressive economic and diplomatic policies.