US Slaps 50% Tariffs on Canada After Last-Minute Talks Fail

The United States imposed a 50% tariff on certain Canadian goods early Saturday after last-minute trade negotiations between Washington and Ottawa failed to reach an agreement. US Trade Representative Jamieson Greer announced that Canada had declined to finalize the trade deal as proposed earlier in the week. Canadian Prime Minister Mark Carney stated that Ottawa suspended negotiations due to the US's last-minute changes to the proposed terms, which Carney deemed "unfair" and "uneconomic."

Canada vowed to retaliate immediately and match the US tariffs "dollar for dollar." The talks had been ongoing as Washington and Ottawa aimed to finalize an agreement before the new tariffs took effect following President Donald Trump's temporary pause of his tariff threat. The proposed deal would have lowered US tariffs on Canadian-made vehicles from 25% to 15% and reduced duties on Canadian steel and aluminum to 25%.

However, negotiations broke down on Friday, with Canadian trade minister Dominic LeBlanc acknowledging that more work was needed. The US had previously threatened to impose the 50% tariffs unless Canada reached a deal within 30 days. This development comes as the US remains Canada's largest export market, accounting for about 70% of Canadian exports.