Canada Slashes Import Quotas for GM and Stellantis

The Canadian government has announced significant reductions in import quotas for General Motors and Stellantis. This move comes in response to these companies' decisions to reduce their manufacturing activities in Canada. The reductions mean both companies will face higher tariffs on U.S.-assembled vehicles imported into Canada.

The Canadian government on Thursday announced cuts to the import quotas of General Motors and Stellantis. The decision stems from what officials deem as these automakers' unacceptable scaling back of their Canadian manufacturing operations.

Effective immediately, General Motors' annual quota will see a 24.2% reduction, while Stellantis faces a 50% cut. These reductions signify that both automakers will no longer enjoy exemptions from Canada's retaliatory tariffs on as many U.S.-assembled vehicles.

The move signals the government's discontent with the automakers' recent decisions and underscores its stance on maintaining a robust manufacturing presence in the country.

(With inputs from agencies.)