Canada vows to match Trump’s 50% tariffs after trade deal talks fail
Mark Carney accuses Washington of ‘unfair’ last-minute changes to deal, as US and Canada fail to reach agreement after three-day extension of talks
TL;DR
- Canada will match US tariffs dollar for dollar, according to Prime Minister Mark Carney.
- Negotiations failed due to "unfair, uneconomic" last-minute changes by the US, Canadian officials stated.
- The US trade representative called the breakdown a "missed opportunity for Canada" and cited new demands.
- The tariffs will affect approximately US$20 billion worth of Canadian products.
- This trade conflict escalates tensions and questions the future of the North American trade pact.
- Support for Canadian workers and businesses will be announced in the coming days.
- The political and economic fallout is expected to be significant given the $880 billion in goods and services traded last year.