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U.S. and Canada have balanced auto trade, but proposed tariffs could cost $50 billion and raise prices.
A TD report indicates balanced automotive trade between the U.S. and Canada, with both countries exchanging equal values of light vehicles and parts.
However, proposed 25% tariffs on Canadian goods by U.S. President Donald Trump could lead to significant costs, potentially $50 billion to shift production back to the U.S., resulting in higher prices for consumers.
Mexico's increased share in North American auto production has led to a $106 billion trade deficit with the U.S. in 2023.
The report warns of prolonged trade uncertainty and possible disruptions in the auto sector.
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EE.UU. y Canadá han equilibrado el comercio de automóviles, pero los aranceles propuestos podrían costar $50 mil millones y aumentar los precios.