Canada will boost investments in green transition to compete with massive U.S. incentives, aiming to claim a portion of the growing clean-tech industry, a senior government source said
The U.S. ambassador to Canada, David Cohen, echoed those comments ahead of U.S. President Joe Biden's visit to Ottawa later this month.
Canada sends three-quarters of its exports south of the border, and the automobile industries of the two countries are highly integrated. Furthermore, Canada has an abundance of the critical minerals that are needed for electric vehicles , making collaboration advantageous for both the U.S. and Canada.
The Conference Board of Canada has estimated the grid needs C$1.7 trillion in investment by 2050 to meet emissions targets.
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