Canada will match US tariffs 'dollar for dollar' as trade talks break down
Canadian Prime Minister Mark Carney has suspended trade negotiations with the U.S. and announced reciprocal tariffs after trade talks collapsed. The breakdown follows last-minute changes to proposed terms that Canada deemed unfair and uneconomic.
Why it matters
The escalation of trade tensions between the U.S. and Canada threatens to disrupt cross-border supply chains and impact the North American economy.
Share Save Add as preferred on Google Nadine Yousif , Senior Canada reporter and Toby Mann Reuters Prime Minister Mark Carney said progress in the talks was not enough to meet Canada's objectives A fresh wave of US tariffs on a wide array of Canadian goods came into effect on Saturday after a last-minute breakdown in trade talks.
Announcing the suspension of negotiations shortly before the Friday night deadline, Canadian Prime Minister Mark Carney said he would impose reciprocal tariffs on US goods "dollar for dollar".
Carney said "last-minute changes in the US proposed terms were unfair, uneconomic, and called into question the reliability of any deal".
Trade negotiators had been engaged in intense talks since July, after President Donald Trump threatened to impose a 50% levy on nearly $20bn (C$28bn) of Canadian imports by 19 August.
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