‘Cannot accept what US has offered’: Canada PM Carney defiant as trade talks collapse
Canadian Prime Minister Mark Carney has suspended trade negotiations with the US following a collapse in talks over new tariff proposals. Both nations are now preparing to implement retaliatory tariffs on key economic sectors.
Why it matters
The breakdown of trade relations between the US and Canada threatens to disrupt supply chains and increase costs for consumers in both countries.
Canadian Prime Minister Mark Carney has rejected the latest US trade offer after last-ditch trade talks between the two countries collapsed, warning that Ottawa will retaliate with new tariffs targeting sectors including steel and dairy. Carney said the measures would come into effect on September 8.“We cannot accept what the US has offered and we will not give what they’ve asked,” Carney said."In the coming days, we'll release details of these new tariff measures, measures which will come into force the Tuesday after Labor Day," the Canadian PM told a news conference.Carney said Canada had been prepared to remove its remaining retaliatory tariffs on strategic US sectors, particularly steel, aluminium and automobiles, as part of a broader agreement.
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