Read Mark Carney’s full statement on the collapse of trade talks with the U.S.

OTTAWA - Prime Minister Mark Carney announced retaliatory tariffs against the U.S. starting September 8 after Canada abandoned a "bad deal" in trade talks that collapsed. Carney, accompanied by Trade Minister Dominic LeBlanc and Chief Trade Negotiator Janice Charette, declared that Canada will match the U.S. new tariffs dollar-for-dollar on sectors such as steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics.

The counter tariffs will come into effect on September 8, the day after Labour Day. Prime Minister Carney stated that the measures are reluctantly taken, as some will raise costs and reduce choice for Canadians. He also recognized that some U.S. companies and states are "innocent bystanders" in the dispute, which prevents Canada and America from "doing so much good that we could do together."

However, Carney emphasized that Canada will stand up for itself and focus on what it can control, aiming to build Canada strong for all. The U.S. introduced new 50% tariffs on billions of dollars in Canadian exports on Saturday, targeting sectors such as steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics, after trade talks failed.