Canada’s PM says will match US tariffs ‘dollar for dollar’
Prime Minister Mark Carney said last-minute changes to the US-proposed terms were unfair and uneconomic, calling into question the reliability of any deal.
Canadian Prime Minister Mark Carney has stated that Canada will match US tariffs "dollar for dollar" after the two countries failed to reach a trade deal. According to Carney, last-minute changes to the US proposed terms were unfair, uneconomic, and called into question the reliability of any deal. The US tariffs, which are 50%, will affect about $20 billion worth of Canadian products.
The breakdown in trade talks between the US and Canada represents a significant deterioration in relations between the two countries, which are historic allies. US Trade Representative Jamieson Greer said that Canada had declined to finalise the trade deal under the terms agreed earlier in the week, citing new demands and walk backs of other commitments by Canada.
The US tariffs took effect on Saturday, with Canada vowing to match them. Carney said that the decision to match the tariffs was made to protect Canadian workers and businesses. The exact shape of Canada's retaliation was not immediately clear, but Carney confirmed that it would be equivalent to the US tariffs.
Brief written by urgent.news from Free Malaysia Today, Free Malaysia Today, Guardian Business, Gulf News, Axios — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- Canada’s PM says will match US tariffs ‘dollar for dollar’ freemalaysiatoday.com