US, Canada fail to reach trade pact to avert Trump tariffs

The United States and Canada failed to reach a trade pact on Saturday, resulting in the imposition of new 50% tariffs on approximately $20 billion worth of Canadian exports to the United States. Trade representative Jamieson Greer stated that Canada declined to finalize the trade deal under the terms previously agreed upon. Despite offers from the US for tariff reductions in sectors such as steel, aluminum, autos, and lumber, Canada's top negotiator, Dominic LeBlanc, said that there was still more work to be done.

Canadian Prime Minister Mark Carney vowed that his country would match the US tariffs dollar for dollar to protect workers and businesses. The US had initially threatened to impose the tariffs on Saturday, but Trump last-minute delayed the implementation for three days, citing significant progress in talks. Canadian negotiators had been in Washington to finalize the deal, which aimed to address various issues including retaliatory measures against US alcohol, automobile, and dairy products.

Carney has emphasized that relations with the US have been fundamentally changed and that Canada must diversify its economy, as it currently relies heavily on trade with the United States.