Carney says Trump agreed to 'intensify' trade talks after 50% tariff threat
Canadian Prime Minister Mark Carney announced that trade negotiations with the U.S. will intensify following President Trump's threat of 50% tariffs on Canadian exports. The tariffs are reportedly in retaliation for perceived trade imbalances in dairy, alcohol, and automotive sectors.
Why it matters
The threat of significant tariffs poses a major risk to the Canadian economy and signals a potential escalation in North American trade tensions.
"I spoke with President Trump earlier this morning. We agreed to intensify negotiations in the coming weeks and the team and myself look forward to doing that," Carney said.
The prime minister said that intensification will happen "right away" but he did not provide insight into the specifics of how his government will respond.
"We will look at all options in terms of how we would respond if [the new tariffs] do come into effect. That's part of what we will be discussing with premiers," he said.
Carney: Trump agreed to ‘intensify’ trade talks
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