Canadian PM slams trade 'war' launched by US
Canadian Prime Minister Mark Carney has suspended trade negotiations with the United States following the imposition of 50% tariffs on Canadian goods. Carney described the move as an attack and vowed to retaliate with reciprocal levies on US steel and dairy products.
Why it matters
This escalation marks a significant breakdown in the trade relationship between two major North American economies, threatening to disrupt supply chains and economic recovery.
Canadian Prime Minister Mark Carney today slammed what he called a trade "war" launched by the United States after the neighbours failed to reach an agreement, leading to the imposition of stiff US tariffs.
"You're at war when you get attacked. We got attacked," Mr Carney told reporters this afternoon after the US said it would impose 50% tariffs on some imports from Canada.
A senior US administration official said Section 338 tariffs on about $20 billion (€17bn) worth of Canadian goods would go into effect just after midnight (5am Irish time).
Mr Carney said that he had suspended the trade negotiations and would retaliate dollar for dollar, with Canadian tariffs taking effect on 8 September.
"We cannot accept what they've offered, and we will not give what they've asked," Mr Carney added, and threatened to hit US steel and dairy imports with reciprocal levies.
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