The Canadian automotive industry's existential crisis appears to be resolving with a proposed amendment by U.S. Senators Schumer and Manchin to broaden electric vehicle tax credits to include North America. This amendment would require a portion of vehicle batteries to come from U.S. free trade partners. Canadian Trade Minister Mary Ng welcomed the proposal, emphasizing its potential benefits for Canadian workers and manufacturing. However, the legislation faces hurdles in the Senate, where Republicans may oppose it, given the impending midterm elections. Manchin's pivotal vote is crucial, yet the bill still requires 60 votes to pass and avoid filibuster. Despite uncertainties, the proposal signals a positive shift for Canadian automotive interests, potentially alleviating longstanding industry concerns.
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