{"text":[[{"start":12.44,"text":"Donald Trump has said he will increase tariffs on Canadian cars and automotive parts to 50 per cent as a new trade war erupts between the North American neighbours following the collapse of crunch talks over the weekend."}],[{"start":24.96,"text":"In a post on social media on Monday, the US president said automotive products, including trucks, would be subject to higher tariffs from January 1 while existing steel levies would be locked in at the same rate."}],[{"start":36.8,"text":"“Canada will be treated like a State no longer!” Trump wrote on his Truth Social platform. “On Trade, and in other ways, also, they are among the worst Nations in the World to deal with. They feel entitled, and yet, WE DON’T NEED CANADA, THEY NEED US!”"}],[{"start":51.68,"text":"The announcement comes after eleventh-hour negotiations to avert a barrage of new US tariffs on $20bn worth of Canadian goods fell apart over the weekend, reigniting a trade war between the countries after months of respite."}],[{"start":64.46,"text":"The talks collapsed on Friday evening shortly before a midnight deadline. Canadian officials said the US had demanded restrictions on Ottawa’s ability to make other trade deals, plunging relations between the allies to a new low."}],[{"start":77.04,"text":"Canadian Prime Minister Mark Carney on Saturday said Washington had “miscalculated” and vowed to match the additional US levies “dollar for dollar”. “You’re at war when you’re attacked, and we got attacked.”"}],[{"start":87.58,"text":"Officials including finance minister François-Philippe Champagne were set to announce Canada’s response to the new US tariffs on Tuesday."}],[{"start":94.08,"text":"Barry Appleton, co-director of the Center for International Law at New York Law School, said the latest US escalation represented a new chapter in Trump’s trade wars as he sought to use America’s economic heft to bend countries to his will ahead of November’s midterm elections."}],[{"start":108.4,"text":"“It looks like it’s set to get worse, a lot worse, before it gets better,” he said. “What the Americans are signalling is that the game is not only about tariffs, but it’s about buying into a Pax Americana, where America sets the rules.”"}],[{"start":121.87,"text":"US officials doubled down on the hardline rhetoric on Monday."}],[{"start":125.456,"text":"US trade representative Jamieson Greer blamed Canada for the talks’ collapse, while Scott Bessent, US Treasury secretary, singled out Carney for going “back to his old playbook” after rising “to power on an anti-American, anti-Trump platform”."}],[{"start":140.36,"text":"Canadian officials, meanwhile, demanded Ottawa hit back. Doug Ford, premier of Ontario, said Trump “can kiss my ass” and called for the government to take sweeping retaliatory measures."}],[{"start":151.92,"text":"He suggested Canada should “triple” the cost of oil, potash, uranium and rare earths. He also hinted the nation could restrict electricity exports to the US."}],[{"start":161.28,"text":"“We need to throw everything in the kitchen sink at him,” Ford said."}],[{"start":165.74,"text":"Canada is the US’s second-largest trading partner, after Mexico. It already pays 50 per cent tariffs on steel. Ottawa had sought to have these slashed to 25 per cent as part of the recent negotiations."}],[{"start":178.266,"text":"The US currently charges tariffs of 25 per cent on Canadian automotive imports. For vehicles covered by the US-Mexico-Canada trade agreement, the levy only applies to non-US parts."}],[{"start":null,"text":"
"}],[{"start":189,"text":"Since the 2020 trade agreement between the three nations, the big three carmakers — Ford, General Motors and Stellantis — as well as international carmakers have invested heavily in building integrated automotive supply chains in North America. Car components cross the borders multiple times before the vehicles are assembled."}],[{"start":208.5,"text":"Analysts said the new tariffs would have far-reaching impacts on both sides of the border."}],[{"start":212.68,"text":"Erin Keating, executive analyst at Cox Automotive, said “the impact of unworkable tariffs would be felt well beyond Canadian assembly plants”, adding that “any increases in tariffs on auto parts directly place further strain on every American car owner”."}],[{"start":227.48,"text":"Jennifer Safavian, chief executive of Autos Drive America, an industry group representing foreign carmakers in the US, noted the negative impact of US tariffs is “already being felt, with US auto exports to Canada down 23 per cent over the past year”."}],[{"start":243.08,"text":"Shares in Ford and Stellantis closed down more than 3 per cent in New York. GM slipped 1.8 per cent. All three companies declined to comment."}],[{"start":251.32,"text":"Mobility Global, a data agency, estimates Canada will account for about 8 per cent of total automotive production in North America in 2026."}],[{"start":260.42,"text":"Toronto-based trade lawyer Mark Warner warned prolonged uncertainty around Canada’s auto sector leading up to January 1 would “freeze” investment."}],[{"start":269.6,"text":"“The tariffs don’t actually have to come into effect before they have a devastating effect,” he said."}],[{"start":274.88,"text":"Flavio Volpe, president of Canada’s Automotive Parts Manufacturers’ Association, said US auto producers would also suffer."}],[{"start":282.68,"text":"“A threatened US tariff on Canadian auto parts will be paid by US auto assembly,” he said. “Without those specific parts, auto assembly throughout the US would halt.”"}],[{"start":292.9,"text":"Shares in Canadian steel producer Algoma Steel dropped 13.8 per cent."}],[{"start":297.96,"text":"Additional reporting by George Steer in New York and data visualisation by Alan Smith in London"}],[{"start":309.14,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1787618758_3764.mp3"}