US, Canada fail to reach trade pact to avert Trump tariffs
WASHINGTON: Hefty US tariffs on some Canadian products took effect on Saturday after days of negotiations that went down to the wire failed to produce an agreement.
On Saturday, the United States and Canada were unable to finalize a trade agreement, leading to the imposition of hefty tariffs on certain Canadian products. Canadian Prime Minister Mark Carney pledged that his nation would impose equal tariffs on US goods to safeguard its workers and businesses. Despite Washington offering tariff reductions in sectors like steel and aluminum, Canada declined to finalize the deal.
US Trade Representative Jamie Greer claimed that Canada still had more work to do, even after three hours of negotiations on Thursday. Carney criticized the US for making last-minute changes to the proposed terms, labeling them unfair and economically unsound. The US had initially delayed the tariffs by three days, citing significant progress in talks.
Canadian negotiators had been in Washington to finalize a deal that aimed to address issues such as tariffs on autos, steel, and aluminum, which have negatively impacted Canada's economy and labor force. The ongoing negotiations also include revisions to the North American Free Trade Agreement (USMCA), which Trump declined to renew last month.
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