General Motors (GM) and Stellantis (STLA) will have to pay tariffs on certain U.S.-made vehicles exported to Canada after the car makers opted to move some production out of plants in Ontario, Bloomberg’s Derek Decloet reports. Though Canada in April placed tariffs of as much as 25% on U.S.-made cars and light trucks in response to President Trump’s levies on foreign vehicles, Prime Minister Mark Carney’s administration also carved out a “remission” exemption for car makers that make vehicles in Canada as an incentive to maintain those factories in the country, the author notes. Stellantis will lose 50% of its Canadian tariff exemption, while GM will lose 24% of the exemption, according to Bloomberg.
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