Read Mark Carney's full speech after trade talks with the U.S. collapsed

Canada and the US had been in trade talks, but they broke down on Friday. Canadian Prime Minister Mark Carney said the US proposed new terms that were "uneconomic, unfair" and didn't offer enough benefits for Canada. According to Dawn, these terms impacted around $20 billion worth of goods, or 5.5% of Canadian exports to the US, with products such as hockey sticks and cement being affected.

Carney stated that the US asked for too much and offered too little, leading Canada to walk away from the deal. He accused US President Donald Trump of launching a trade "war" and said Canada would impose retaliatory tariffs on the US, targeting industries such as steel and dairy, as reported by Dawn and People Daily Kenya. People Daily Kenya added that Canada would match US tariffs "dollar-for-dollar" from September 8, 2026.

The breakdown in talks resulted in new 50% US tariffs on Canadian goods. Carney said Canada was retaliating "reluctantly" to protect its interests, and details of the counter-measures would be released in the coming days, as per People Daily Kenya. Carney also revealed that Canada was willing to drop remaining retaliatory tariffs on steel, aluminum, and autos if the US substantially lowered its own, according to Hindustan Times - World News.

Brief written by urgent.news from CBC Canada, Dawn, People Daily Kenya, National Post, Hindustan Times - World News — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.