US slaps 50% tariffs on US$20 billion of Canadian goods after trade talks fail
The United States imposed 50 per cent tariffs on US$20 billion worth of Canadian products early on 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. US President Donald Trump’s import taxes will hit about 5 per cent of what Canada ships to the United States every year,…
The United States imposed 50% tariffs on $20 billion worth of Canadian products early Saturday after trade talks failed. Canadian Prime Minister Mark Carney responded by stating Canada would retaliate by matching those tariffs dollar for dollar to protect workers and businesses. The tariffs, which apply to about 5% of what Canada ships to the United States annually, include products like hockey sticks and tongue depressors.
Canadian Prime Minister Mark Carney blamed Washington for the breakdown, claiming the US proposed unfair and uneconomic terms. The US trade representative, Jamieson Greer, described Canada's new demands and changes to earlier commitments as unacceptable. The breakdown in negotiations marked a significant shift from earlier optimism.
The political fallout could be even more consequential than the economic impact, as the two countries exchanged goods and services worth $880 billion last year. The tariffs were originally set to take effect on Wednesday, but Trump extended the deadline for three days. Despite the ongoing tension, the two nations' close relationship and shared history, including military cooperation and the extensive border crossings, make it challenging to envision a lasting resolution.
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Also reported by 7 other outlets
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- US imposes 50% tariffs on Canadian products koreatimes.co.kr
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- US imposes 50% tariffs on $20bn worth of Canadian goods after talks fail aljazeera.com
