Canada will use its reprisal identification profits to help workers and companies

The 25 percent Canada tariff began to collect cars and trucks imported from the United States early on Wednesday, not only the latest action to take revenge on the country against the definitions imposed by President Trump on Canadian exports.

About $ 8 billion in Canadian dollars annually, about 5.7 billion dollars, is expected to generate these fees will also generate assistance to companies and workers now at an economic threat from the United States.

With no clear or immediate end on the horizon to push Mr. Trump’s tariff, Canada has now turned its attention on how to reduce the impact of job losses and the closure of factories and splashes that the fees are likely to be caused. Other countries, including Spain and South Korea, also announced various measures to try to expand the strike from the definitions.

In Canada, the repercussions of the definitions of cars came quickly, the country’s largest export to the United States regardless of energy.

Hours before the start of a 25 percent American tariff on the cars made in Canada this month, Stelantis announced that the assembly factory in Windsor, Ontario, was closing for two weeks as he evaluated his plans.

Flavio Volb, head of the Canada Automotive Factors Association in Canada, estimates that up to 12,000 workers in Canada’s spare parts factories and in Canada -owned parts factories in the United States have been closed Stelantis.

However, Prime Minister Mark Carney has not yet put exactly how the money resulting from Canada will be spent on the American definitions. In addition to $ 5.7 billion of revenge cars tariffs, Canada also expects to generate $ 42 billion annually from a set of fees imposed in March in response to the previous definitions of Canadian goods that Mr. Trump implemented.

The nature of the economic crisis established by Mr. Trump challenges governments in Canada and around the world to know the type of financial support that will succeed.

Rob Gilso, a professor of economics at the University of Toronto, said that many temporary measures used during the epidemic or during the previous recession are unlikely to be effective if Mr. Trump does not quickly back down from the customs tariff.

“Usually you expect to return to normal,” he said. “But this is likely, a permanent structural commercial shock. I don’t think there is necessarily a good reason for the belief that companies here will be the same companies here tomorrow.”

Canada was exposed to three separate tariffs for the United States: fees on cars, car parts, aluminum and steel, and the third tariff on goods that are outside the trade agreement between the United States, Canada and Mexico.

Some Canadian provinces have been overwhelmed by the measures they used during the epidemic, the most prominent of which is Ontario, which is home to the country’s auto industry and many of its broad industrial base, including the steel sector.

On Monday, Doug Ford, Prime Minister in Ontario, said that companies will be able to postpone the payment of a variety of taxes due at the end of June for several months.

“We cannot control President Trump, but we fully control the type of future that we build for ourselves,” said Mr. Ford, who has become something in US news in recent times as he did not issue against definitions.

The government estimates that delaying tax bills will allow companies to stick to about $ 9 billion for a longer period than they expected.

“For a margin company, this may be important, and it will help,” said Professor Gilso. “But given that this will come out, I do not think that the influence on companies’ survival will be particularly meaningful.”

The province said it would also return two billion Canadian dollars in the incident insurance fund at the workplace for employers as another batch.

The western province of Manitoba has announced the postponement of payment to its companies on some taxes, while Quebec and New Bronzwek offer low -cost loans to companies to adapt to a world in which the United States may not be a financially financial market.

The Business Development Bank in Canada, owned by the federal government, has a special loan program for companies affected by definitions. In another reformulation of the epidemic, unemployment insurance rules were changed to help workers whose hours will be held due to American definitions.

Professor Gilso said: “We were not really like this before,” said Professor Gilso. He added: “Trying to identify companies and sectors that will come out well – this is really difficult.”