'U.S., Canada Discussing Possible Reduction In Us Autos To 15% After Some Value Content Deductions From 25% Currently; U.S. Officials Offer To Deduct Only U.S.-Specific Value Content From 15% Tariffs On Canadian Vehicles, But Canadian Officials Want All North American Content Deducted; Some North American Auto Industry Officials View Either Option As An Improvement Over Current 25% U.S. Tariff On Canadian Vehicles, As Japan, South Korea And EU Have 15% Autos Tariff Rate, Sources Say'
- Reuters
The U.S. and Canada are talking about lowering tariffs (extra taxes on imports) on cars from 25% to 15%, which would make Canadian cars cheaper to buy and easier for companies to do business. Car makers think this is good news because it would match what other countries pay, but the two countries are still figuring out exactly what counts as North American-made parts.
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