Canada retaliates as trade war with US escalates
Canadian Prime Minister Mark Carney has announced retaliatory tariffs against the US following the breakdown of trade negotiations. The move escalates a trade war that has already impacted billions in cross-border goods.
Why it matters
The breakdown in trade relations between the US and Canada threatens economic stability and signals a significant shift in North American trade policy.
Canada's prime minister Mark Carney said the US had set conditions that were ultimately unacceptable even though earlier talks had been positive. (EPA Images pic)
OTTAWA: Canadian Prime Minister Mark Carney announced retaliatory tariffs on the USon Saturday, after walking away from a "bad deal" on trade in a deepening rift between the longtime allies.
Negotiations between the neighboring countries broke down Friday in Washington, putting into force new 50% US tariffs impacting about US$20 billion worth of goods, or 5.5% of Canadian exports to the United States.
Impacted products range from hockey sticks to cement.
"You're at war when you get attacked. We got attacked," Carney said.
US President Donald Trump had said Washington "should be able to have a deal with Canada," citing his "good relationship" with Carney.
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