US-Canada trade talks fail, high tariffs kick in
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.
U.S. and Canadian trade negotiations concluded without an agreement on Saturday, leading to the imposition of hefty tariffs on approximately $20 billion worth of Canadian exports to the United States. Canadian Prime Minister Mark Carney denounced the last-minute demands by Washington as "unfair" and vowed to match U.S. tariffs dollar for dollar to protect jobs and businesses.
Despite U.S. Trade Representative Jamie Gere's offer to reduce tariffs in sectors such as steel, aluminum, automobiles, and lumber, Canadian negotiators claimed their counterparts were unwilling to make substantial concessions. U.S. officials had initially set a deadline of Wednesday for the conclusion of talks, but extended the deadline by three days citing significant progress.
Canadian negotiators had been stationed in Washington to finalize the deal, which aimed to alleviate the impact of U.S. tariffs on autos, steel, and aluminum that have caused job losses and economic strain. The ongoing dispute also revolves around revisions to the North American Free Trade Agreement, USMCA, which the Trump administration declined to renew last month.
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