US imposes 50pc tariffs on some Canadian goods talks failed
The United States has imposed 50pc tariffs on some Canadian goods after trade talks failed. The new duties took effect shortly after midnight on Saturday. They cover about $20 billion worth of Canadian products. However, the affected goods represent just over five percent of Canada’s US exports. The move has nevertheless increased tensions between the […]
The United States has imposed 50% tariffs on some Canadian goods after trade talks between the two countries failed. The new duties, which came into effect on Saturday, cover around $20 billion worth of Canadian products, representing just over 5% of Canada's US exports.
The tariffs have increased tensions between US President Donald Trump and Canadian Prime Minister Justin Trudeau. According to the Dawn, Trudeau said he had suspended trade negotiations and Canada would retaliate "dollar for dollar" on the new tariffs.
The breakdown in trade talks may complicate broader negotiations to renew the US-Mexico-Canada free trade agreement. The US and Canada recorded nearly $900 billion in trade in goods and services last year.
Brief written by urgent.news from Daily Times, Dawn, Dawn Business, Live Mint, WSJ Economy — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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