Carney calls Trump's fresh tariffs a 'miscalculation' after trade talks collapse

Canada's Prime Minister Mark Carney has denounced the US's new tariffs on Canadian goods as a "miscalculation" designed to "hurt and divide us," following the collapse of trade talks on Friday night. Carney expressed his refusal to compromise Canada's sovereignty, stating that the Americans asked for too much and offered too little.

In a speech to Canadians on Saturday morning, Carney vowed that Canada will match US tariffs "dollar-for-dollar" from September 8, including levies on steel, dairy, appliances, and electronics. Donald Trump has yet to comment on the matter. Both nations were optimistic about reaching an agreement earlier in the week, but talks fell apart after both sides accused each other of making last-minute changes.

Consequently, Canada will face new 50% US tariffs on various Canadian goods, in addition to existing US tariffs on Canadian steel, aluminum, automobiles, and lumber. Carney emphasized that the counter-measures were a reluctant retaliation to protect Canada's interests, promising to reveal the specifics in the coming days. The US negotiators accused Canada of making new demands and backtracking on previously agreed terms, which were deemed unfair and uneconomic.