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Market Chatter: Carney To Pause 2026 EV Target, Announce New Tariff Supports
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Market Chatter: Carney To Pause 2026 EV Target, Announce New Tariff Supports
Sep 5, 2025 7:12 AM

09:57 AM EDT, 09/05/2025 (MT Newswires) -- Prime Minister Mark Carney is set to announce a nine-part strategy to support sectors impacted by U.S. President Donald Trump's tariffs, which will include a review of the federal government's electric vehicle (EV) mandate, CTV News has learned on Friday.

It noted Carney is scheduled to make the announcement on Friday in Mississauga, Ontario, following a two-day cabinet-planning forum this week that was largely focused on the economy.

CTV News noted multiple government and industry sources have shared the details, as of Friday morning, of the federal government's "sector-based" announcement aimed at making the Canadian economy more competitive and addressing tariff impacts.

As part of the strategy, the report said, Canada's 2026 target for 20% of light-duty vehicle sales be zero-emission will no longer apply. An immediate review of the EV mandate will also begin, it added.

CTV News noted that in the wake of Trump's auto sector tariffs, some automakers have criticized the current plan to achieve 100% zero-emission vehicle sales by 2035. It said there is no promise at this point to cancel the mandate.

The report also noted Friday's announcement will also include a "Buy Canada" policy when it comes to procurement and funding at all federal institutions that will require legislative and regulatory approvals. The government is aiming to have initial elements of the proposal in place by this October, with full implementation by spring 2026.

(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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