Of course, it is a conditional deal conditional on the U.S. coughing up $14 billion for Detroit automakers. Otherwise, the Canadians will keep their funds.
Why $2.8 billion, you ask? It’s exactly 20% of the U.S.’s proposed $14 billion loan package and U.S. automakers make 20% of their cars in Canada. So they’re only paying their fair share.
By the way, the Struggling 3 asked Ottawa for $6.8 billion originally. That has been trimmed back as the U.S. deal was cut down.
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