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Trump’s 50% tariffs on foreign steel “have fundamentally altered the competitive landscape and sharply limited our ability to access the U.S. market,” a spokeswoman said.

GM and Stellantis will be forced to pay tariffs on some U.S.-made vehicles they import for sale in Canada, after the companies decided to reduce assembly-line work at Ontario factories.

The automaker is stopping the assembly line that made BrightDrop vans in Ontario. Its future was in doubt after GM announced in April it would halt production for months because of weak demand.

The Detroit-based automaker will keep three shifts at its factory in Oshawa, Ontario, until at least Jan. 30.

Canada Prime Minister Mark Carney believes trade negotiations with the U.S. will “intensify” but sees little evidence the Trump administration is willing to completely drop tariffs.

Canada’s finance minister said the government kept 25% retaliatory tariffs on U.S. goods, disputing an Oxford Economics report that suggested it had paused the vast majority of those levies.

Canada has effectively suspended almost all of its retaliatory tariffs on U.S. products, tamping down inflation risks and improving its growth outlook, according to Oxford Economics.

Ritchie Bros. Auctioneers Inc. has the potential to double its share price if it takes over IAA Inc., its CEO said as she launches a final push to fend off opposition from some shareholders to the deal.

A large investor in Ritchie Bros. Auctioneers Inc. is backing the Canadian auction company’s proposed takeover of IAA Inc., giving a boost to a deal that has been opposed by other shareholders.

To understand why inflation is running so hot, look to Canada’s West Coast. Vancouver, the home of one of North America’s busiest ports, is bursting at the seams.