US imposes 50% tariffs on Canadian products
WASHINGTON — The United States imposed 50 percent tariffs on $20 billion worth of Canadian products early Saturday, and Canada immediately said it would retaliate, after last-ditch negotiations failed to resolve the latest strain in already tense relations between the historic allies. President Donald Trump’s import taxes will hit about 5 percent of what Canada ships to the United States every…
On Saturday, the United States imposed 50 percent tariffs on $20 billion worth of Canadian products, following the failure of last-ditch negotiations to resolve the escalating trade tensions between the two nations. President Donald Trump's import taxes will affect approximately 5 percent of Canada's annual shipments to the United States, encompassing a wide range of goods such as hockey sticks and tongue depressors.
Canadian Prime Minister Mark Carney announced that Canada would reciprocate the U.S. tariffs on a dollar-for-dollar basis, potentially undermining the future of the North American trade pact involving the United States, Canada, and Mexico, which is vital for industries across all three countries. Canada had been seeking concessions on tariffs imposed on steel, aluminum, automobiles, and lumber, but the United States was unwilling to make any such concessions.
Canada decided not to finalize the trade deal under the terms agreed upon earlier in the week, rejecting the U.S. offer of the best treatment for any major exporter to its market, citing new demands.
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