IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

firm-specific

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 30 Mar 2009 | Removal date: open ended
Still in force

Capital injection and equity stakes (including bailouts)

At the height of the financial crisis in 2009 the federal government of Canada and the province of Ontario acquired stakes in General Motors (GM) as part of the wider bail-out of the North American automotive industries. Taken together these two governments came to hold nearly 141 million common shares in GM worth $5.3 billion in 2013. The federal government held about two-thirds of these shares and the government of Ontario about one-third. They received these shares after they joined with the U.S. government in a bailout of both GM and Chrysler Group LLC. This included $13.7 billion devoted to protecting Canada's auto sector, including $10.8 billion for General Motors and $2.9 billion for Chrysler.
 
Canadian Finance Minister Jim Flaherty's office announced that Ottawa wants to sell the shares, but to do so in a way that will reap the greatest return. According to a statement by Kathleen Perchaluk, press secretary to Flaherty, 'The government of Canada remains committed to exiting from ownership of GM as quickly as feasible, while maximizing the value of the government's interests for Canadian taxpayer.' She said the Canada GEN Investment Corporation, which holds the government's share in GM, 'examines on an ongoing basis, opportunities to divest those shares.'

AFFECTED COUNTRIES

MAP
TABLE
EXPORT

AFFECTED SECTORS AND PRODUCTS

444 Machinery for mining, quarrying & construction; parts
8704 Motor vehicles for the transport of goods.
870410 Dumpers designed for offhighway use
491 Motor vehicles, trailers & semi-trailers; parts
8702 Motor vehicles for the transport of ten or more persons, including the driver.
870210 With compressionignition internal combustion piston engine (diesel or semidiesel)
870290 Other
8703 Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 87.02), including station wagons and racing cars.
870310 Vehicles specially designed for travelling on snow; golf cars and similar vehicles
870321 Of a cylinder capacity not exceeding 1,000 cc
870322 Of a cylinder capacity exceeding 1,000 cc but not exceeding 1,500 cc
870323 Of a cylinder capacity exceeding 1,500 cc but not exceeding 3,000 cc
870324 Of a cylinder capacity exceeding 3,000 cc
870331 Of a cylinder capacity not exceeding 1,500 cc
870332 Of a cylinder capacity exceeding 1,500 cc but not exceeding 2,500 cc
870333 Of a cylinder capacity exceeding 2,500 cc
870390 Other
8704 Motor vehicles for the transport of goods.
870421 g.v.w. not exceeding 5 tonnes
870422 g.v.w. exceeding 5 tonnes but not exceeding 20 tonnes
870423 g.v.w. exceeding 20 tonnes
870431 g.v.w. not exceeding 5 tonnes
870432 g.v.w. exceeding 5 tonnes
870490 Other

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