US hits Canadian goods with 50% tariffs after trade talks fail
WASHINGTON/OTTAWA: The U.S. imposed 50% tariffs on some Canadian goods on Saturday after the two longstanding allies failed to reach a trade deal, with each side accusing the other of derailing days of talks. The tariffs that came into effect just after midnight (0400 GMT) on some $20 billion of Canadian goods - things like wooden ice hockey sticks that are rarely used anymore - are far from an…
On Saturday, the U.S. imposed a 50% tariff on certain Canadian goods following the failure to reach a trade agreement, according to the source <7766a587-f58>. The tariffs applied to approximately $20 billion worth of Canadian products, including wooden hockey sticks. This amounts to more than 5% of Canada's exports to the U.S. However, the new tariffs represent less of an economic threat for Canada compared to its larger trading partner, Mexico.
The move reflects the escalating tensions between President Donald Trump and Prime Minister Mark Carney. In response to the tariffs, Carney suspended trade negotiations and announced that Canada would retaliate "dollar for dollar." Carney stated that the U.S. had proposed terms that were "unfair, uneconomic, and called into question the reliability of any deal."
The U.S. Trade Representative, Jamieson Greer, acknowledged that the talks had not produced a final agreement. The U.S. offer reportedly aimed to lower tariffs on steel, aluminum, and autos, and potentially bring American alcohol back to Canadian liquor stores. However, Canada sought additional concessions, particularly on steel, aluminum, autos, and softwood lumber. No further talks are scheduled as the U.S. implements the new duties.
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