Canadian officials approve $3.3B auto aid package; But waits on U.S. auto bailout aid to be approved.

The federal and Ontario governments will provide a lifeline worth about $3.3 billion for the struggling Canadian auto sector, but the money won't flow until the U.S. approves its own bailout package, Industry Minister Tony Clement announced Friday.

Clement added that the funds are "contingent" upon the auto industry creating a plan for long-term viability, and he noted that the announcement is intended to send Washington a message that urgent action is necessary.
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