Canadian trade minister vows to keep pushing U.S. on global tax deal
BNN Bloomberg
Canada’s trade minister praised U.S. passage of a landmark tax and climate-change bill, playing down the potential for conflict over what was left out of it.
Mary Ng said legislation approved Friday afternoon by the House of Representatives represents a diplomatic victory for Prime Minister Justin Trudeau’s government. She led the push against an earlier proposal that would have restricted electric vehicle tax credits to cars and trucks built by unionized US workers, making it harder for Canadian auto plants to compete.
“This recognizes the importance of the integrated supply chain that has always been Canada and the United States in making automobiles,” Ng said by phone from her district in suburban Toronto. “It’s really good for workers and it’s really good for jobs.”
The Inflation Reduction Act that’s now headed to President Joe Biden’s desk includes language that applies the incentives to vehicles built anywhere in North America. But it was stripped of a change that would have brought the US in line with a global deal on a 15 per cent minimum corporate tax.
