By David Olive Business Columnist Mon., Nov. 26, 2018 It’s time to give serious thought to creating the country’s first Canadian-owned automaker. The announcement today by General Motors Co. (GM) that it is assigning no new products to GM Canada’s landmark Oshawa plant after 2019 puts the facility’s future in doubt. Nationalizing GM Canada is a compelling proposition. It would not only save jobs but create them, as Canada repatriated the engineers, designers and experts in advanced manufacturing who have been obliged to make their careers abroad. It would be a significant advance in economic sovereignty, in a Canada that is stunted by its status as the world’s biggest branch-plant economy. Canada is one of the world’s biggest and oldest automaking jurisdictions. We were building motorized vehicles in Southern Ontario for about half a century before what is now Toyota Motor Corp. began its transition from bicycle to vehicle … [Read more...] about Is it time for Canada to have its own automaker?
Landmark auto sales
(This September 26 story corrects glass factory location in paragraph 12)By Howard SchneiderTHOMASVILLE, N.C.: In a town where a 30-feet tall chair is the chief landmark, and which is synonymous with a U.S. furniture industry decimated over the years by imports from China, many greet the possibility of tariffs on Chinese goods with a shrug. No wonder. Of three once bustling Thomasville furniture plants in the city limits, one is being demolished and cleared for parkland, another may become the site of a new police station, and a third is being converted into apartments. President Donald Trump is threatening to levy tariffs of up to 25 percent on US$500 billion of goods imported from China each year, including roughly US$20 billion of furniture, as a way to bring back hundreds of thousands of manufacturing jobs lost to China and other low-cost competitors.Yet, the transformation of U.S. industries since China’s emergence as the world’s low-cost producer almost two … [Read more...] about In a US manufacturing hub, no illusions about tariffs and jobs
THOMASVILLE, NORTH CAROLINA (REUTERS) - In a town where a 30 feet (9m) tall chair is the chief landmark, and which is synonymous with a US furniture industry decimated over the years by imports from China, many greet the possibility of tariffs on Chinese goods with a shrug. No wonder. Of three once bustling Thomasville furniture factories in the city limits, one is being demolished and cleared for parkland, another may become the site of a new police station, and a third is being converted into apartments. President Donald Trump is threatening to levy tariffs of up to 25 per cent on US$500 billion (S$683 billion) of goods imported from China each year, including roughly US$20 billion of furniture, as a way to bring back hundreds of thousands of manufacturing jobs lost to China and other low-cost competitors. Yet, the transformation of US industries since China's emergence as the world's low-cost producer almost two decades ago means many no longer directly compete with Chinese imports, … [Read more...] about In the US manufacturing hub of Thomasville, tariffs may not translate so easily into more jobs
LONDON: Stock markets wobbled and the dollar was mixed against main rivals on Wednesday (Aug 22) awaiting the start of key trade talks between China and the United States.While not expecting a major deal when officials from Beijing and Washington meet, investors are hopeful they can start to find a way out of the months-long row that has seen tariffs imposed on billions of dollars of goods and stock markets tumble."Stock markets are mixed as trade talks still dominate the headlines," said market analyst David Madden at CMC Markets UK.In Europe, both London and Paris closed higher, while Frankfurt ended essentially flat after having spent most of the day in the red.On Wall Street, the Dow was lower while both the S&P 500 and tech-heavy Nasdaq Composite were higher in late morning trading.After the S&P 500 set a new record high on Tuesday, Wall Street is set to reach Wednesday a new landmark on the longevity of the rising market that started in 2009 just after the global … [Read more...] about European stocks, dollar wobble before US-China trade talks
WASHINGTON: U.S. President Donald Trump will meet 10 major automakers at the White House on Friday to discuss the fate of landmark fuel efficiency standards and a looming confrontation with California and other major states.A draft proposal circulated by the U.S. Transportation Department would freeze requirements at 2020 levels through 2026, but the administration is not expected to formally unveil the proposal until later this month or in June.Major automakers reiterated this week they do not support freezing requirements but say they want new flexibilities and rule changes to address lower gasoline prices and the shift in U.S. consumer preferences to bigger, less fuel-efficient vehicles.Automakers also want the White House and California to reach agreement on maintaining national standards, fearing a prolonged legal battle could leave them facing two different sets of rules and extended uncertainty.Trump plans to tell automakers he is willing to support a freeze and challenge … [Read more...] about Trump to sit down with major automakers on Friday on fuel rules