Carney says Canada ‘walking away from a bad deal’ as 50% tariffs hit
Canadian Prime Minister Mark Carney has announced retaliatory 50% tariffs on U.S. goods following failed trade negotiations. The move aims to protect domestic industries like steel and dairy while signaling a shift toward diversifying Canada's trade relationships.
Why it matters
This escalation marks a significant deterioration in Canada-U.S. trade relations, potentially impacting North American supply chains and economic stability.
Prime Minister Mark Carney says Canada is “walking away from a bad deal” with the United States and will match 50 per cent tariffs “dollar-for-dollar” in industries like steel and dairy.
Carney confirmed he was “reluctantly” adding tariffs that would add costs in some areas for Canadians, but insisted they were necessary to retaliate against United States President Donald Trump’s levies.
“We cannot accept what they’ve offered, and we will not give what they asked,” Carney declared in Ottawa on Saturday morning.
The prime minister said talks had taken place with the United States over the past year, and accelerated in recent days. He suggested his team had been skeptical, but optimistic a deal could be reached.
Carney said Canada’s trade negotiations had taken place knowing the United States’ “signature was written in pencil,” with negotiators still hoping to “strike a fair deal” with its southern neighbour.
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