International Trade committee  I'm happy to answer that question. What we're asking for in the TPP is for the IMF principles of currency manipulation to be codified. It does not deal with monetary policy at all; it allows countries to use monetary policy to manage their economy. However, all of the signatorie

International Trade committee  Certainly. In terms of the consultation process, both as an industry group and as Ford, we engaged with the negotiators. Again, going back to the integration of the North American market, we felt that this concept of integration of the North American auto industry—Canada, the U.

International Trade committee  Let me answer your question in a bit of a different way. Ford has made the move to be a truly global company, and our Canadian footprint is part of our overall global footprint. In terms of an export platform, today, as Dianne mentioned, we export 90% of the vehicles we build fr

International Trade committee  You go ahead.

International Trade committee  In terms of the tariff fees we were clear from the beginning [Technical difficulty—Editor]. I'm not sure why we didn't get there, but I know that our advice was very clear in terms of having, because of the North American integration of the market, to land in the same place on t

International Trade committee  May I add that in terms of the tariff phase-out, the U.S. auto tariff phase-out is back-end loaded. That means on the car side the 2.5% tariff on cars does not change for the first 14 years. It remains in place at 2.5%. Then in year 15 it begins to gradually decline to 0% by year

International Trade committee  Certainly. As I mentioned, the IMF has a strict definition of currency manipulation. In fact, there was a proposal put forward as part of the TPP negotiations in the U.S. It was developed by external experts in monetary policy and external economists. It suggested how you could t

Industry committee  May I just add to that on the structure of the program? Today, the AIF is a loan and it's taxable. To put that in perspective, if we get $100 as a loan, we have to carry it on our balance sheet as a loan of $100, but we immediately have to pay the government back $25. We actual

Industry committee  About Ford, we do have two leading-edge R and D centres in Canada. We have the Powertrain Engineering and Research Development Centre in Essex. We have spent almost $100 million on R and D projects there to do the full range of power train. It can test, develop, and do R and D wo

International Trade committee  Thank you for the opportunity to provide Ford of Canada's views on the renegotiation of the North American Free Trade Agreement. The Ford Motor Company is a global automotive and mobility company with about 202,000 employees in 62 plants worldwide. As Canada's longest-establish

International Trade committee  Thanks. Last year, 16% of Ford's Canadian vehicle production was exported outside of NAFTA. That said, the U.S. market and NAFTA remain the single biggest and most important market for Canadian-produced vehicles and engines. All of Ford's Canadian engine production and 74% of Fo

International Trade committee  I just want to endorse what Mathew said. The borders are critically important, not just the streamlined procedures, but also the infrastructure. As an example, last Thursday night, May 4, I travelled from Windsor to Sarnia. The quickest way is through the United States, and the B

International Trade committee  From Ford's perspective, CETA is an incredibly important deal. We have been very supportive of that deal. It helped us make the business case for Oakville, to put the global platform there, knowing we could export up to 40,000 units to the European Union. In 2016, in our first ye

International Trade committee  Absolutely, centres of excellence are incredibly important. I think, though, that one of the pieces of good news is that while in the electronic and information era things move over the Internet, people have to physically move through means such as cars. Vehicles for mobility pur

International Trade committee  We need to see what the proposed changes are before we can answer that in detail. Today, however, Canada's tax rate is 25% and the U.S. tax rate is 35%. Canada's rate is clearly lower and provides an advantage. Depending on what the U.S. does, especially if they no longer tax wor