'They asked too much': Canada hits back with tariffs on US
WASHINGTON: Canadian Prime Minister Mark Carney said Saturday he would slap retaliatory tariffs on the United States after walking away from a “bad deal” on trade, deepening the rift between the longtime allies.
Canadian Prime Minister Mark Carney announced on Saturday that his country would impose retaliatory tariffs on the United States following a breakdown in trade negotiations. This decision came after the 50% US tariffs, impacting $20 billion worth of goods - 5.5% of Canadian exports to the US - were set to take effect. The products affected span a wide range, from hockey sticks to cement.
US President Donald Trump had previously expressed a desire for a mutually beneficial deal, stating that his relationship with Carney warranted such an agreement. However, Carney described the recent US terms as "uneconomic, unfair, and undermined the net benefits for Canada," accusing the US of making an offer that "asked too much and offered too little."
Carney denounced Trump's actions as launching a trade war. New Canadian tariffs will specifically target the US steel and dairy industries, coming into force on September 8.
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