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Auto sector bracing for U.S. tariffs but no bailouts required: Volpe

“We are not asking for financial packages,” Volpe said. “What we are trying to assess is what to do when they [tariffs] happen.”

Published Feb 3, 2025 at 7:44pm

Barbara Patrocinio
By
Barbara Patrocinio
Auto sector bracing for U.S. tariffs but no bailouts required: Volpe

Flavio Volpe who is a member of the Prime Minister Justin Trudeau's Council on Canada-U.S. Relations speaks to reporters during a cabinet retreat at Chateau Montebello in Montebello, Que., on Tuesday, Jan. 21, 2025. THE CANADIAN PRESS/Sean Kilpatrick

As the auto sector braces for U.S. tariffs coming as early as tomorrow, Flavio Volpe, head of the Automotive Parts Manufacturers’ Association (APMA), made clear that industry leaders are not seeking financial aid. Instead, they are focused on understanding the precise impact of any incoming tariffs and preparing for the fallout.

“We are not asking for financial packages,” Volpe said. “What we are trying to assess is what to do when they [tariffs] happen.”

Comparing the situation to the economic disruptions caused by COVID-19 in 2020, Volpe said that the first step for industry players is to have clarity - then they will be discussing potential countermeasures.

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