Carney calls Trump's fresh tariffs a 'miscalculation' after trade talks collapse
Canadian Prime Minister Mark Carney has labeled new US tariffs a 'miscalculation' after trade negotiations collapsed. Canada plans to retaliate with dollar-for-dollar tariffs on US goods, signaling a significant escalation in trade tensions.
Why it matters
The breakdown of trade relations between the US and Canada threatens to disrupt integrated supply chains and impact the global economy.
Figure caption, Watch: 'US asked too much and offered too little,' says Canada's PM Mark Carney
Prime Minister Mark Carney has said a fresh wave of US tariffs on Canada is a "miscalculation" designed to "hurt and divide us", after trade talks collapsed late on Friday.
"They asked too much and they offered too little," Carney told Canadians on Saturday morning, adding the country was now in a trade "war" after being hit with punishing new US duties.
The prime minister confirmed he would match US tariffs "dollar-for-dollar" from 8 September, including levies on steel, dairy, appliances and electronics.
The collapse of the trade talks upends a deeply integrated trading relationship between two allies, with no clear path to resolution.
US President Donald Trump has yet to comment.
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