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InvestmentsCanada's Trudeau comes up short on U.S. EV tax credits, says will...

Canada’s Trudeau comes up short on U.S. EV tax credits, says will keep pushing By Reuters


¬© Reuters. FILE PHOTO: U.S. President Joe Biden, Canada’s Prime Minister Justin Trudeau, and Mexico’s President Andres Manuel Lopez Obrador meet for the North American Leaders’ Summit (NALS) on the White House in Washington, U.S. November 18, 2021. REUTERS/Jonathan

By Steve Scherer

WASHINGTON (Reuters) -Canadian Prime Minister Justin Trudeau returned to Ottawa on Friday after failing to persuade U.S. President Joe Biden to scrap proposed electric-vehicle tax credit that will favor American-based producers, however stated he would keep looking for an answer.

Democrats within the U.S. House of Representatives on Friday handed https://www.reuters.com/markets/us/us-house-vote-bidens-175-trillion-bill-after-hours-long-delay-2021-11-19 the $1.75 trillion home funding invoice that features the tax credit, sending it to the Senate the place negotiations will proceed.

Canada fears the credit will undermine its personal efforts to supply electrical automobiles (EVs) in Ontario – the nation’s industrial heartland – the place General Motors Co (NYSE:), Ford Motor (NYSE:) Co and Stellantis NV already assemble automobiles and vans and plan a pivot to electrical.

“The Americans are very aware of Canada’s position on this, and our concerns around it, and quite frankly, the threats it poses to over 50 years of integrated automaking in our two countries,” Trudeau informed reporters late on Thursday after assembly Biden on the White House.

“There are a number of ways to look at solving this,” Trudeau stated with out elaborating, including that Canada would proceed to push to “find solutions”.

Trudeau – who was in Washington to attend the primary assembly https://www.reuters.com/world/us-canada-mexico-set-donate-vaccines-unveil-new-methane-curbs-2021-11-18 between the leaders of the United States, Canada and Mexico in 5 years – additionally met with Congressional leaders.

On Friday, Brian Nichols, the U.S. Assistant Secretary of State for Western Hemisphere Affairs, stored the door open to a compromise.

“Obviously we have some differences of opinion on these issues,” he stated. “But we have a great relationship… and we’re going to work through all the issues that we have.”

The tax credit score subject was the primary Trudeau introduced up in his one-on-one assembly with Biden on Thursday, a authorities supply stated, and Canadian Finance Minister Chrystia Freeland on Wednesday warned the tax credit threat turning into the dominant bilateral subject between the 2 international locations.

Canada says they might violate guidelines of the brand new North American commerce deal with, or USMCA (United States-Mexico-Canada Agreement). The White House insisted on Thursday that they don’t. Canada has indicated it might reply https://www.reuters.com/business/autos-transportation/exclusive-canada-would-respond-us-tax-credits-american-built-evs-minister-2021-11-04 if the tax credit are handed.

Trudeau stated he mentioned different contentious points with Biden, corresponding to his “Buy American” provisions and Michigan’s push to close down Enbridge (NYSE:) Inc’s Line 5 oil pipeline, however discovered no options.

There was “no definitive win for Canada,” stated the Canadian Chamber of Commerce, and the Conservative Party opposition stated the failure confirmed “Canada’s relationship with the United States has declined under Mr. Trudeau”.

Trudeau had a rocky relationship with former President Donald Trump, who as soon as referred to as him “dishonest and weak”, and he was the primary world leaders to congratulate Biden after he was declared the winner of the 2020 election.

But Biden https://www.reuters.com/article/canada-usa-trade-idAFL2N2O02V2 canceled an oil pipeline from Canada to the U.S. that Trudeau supported on his first day in workplace, and Washington has introduced plans to double duties on imports of Canadian lumber and requested a dispute panel on Canada’s dairy import quotas.

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