US hits Canadian goods with 50% tariffs
The United States has imposed 50% tariffs on $20 billion worth of Canadian goods following a breakdown in trade negotiations. Canadian Prime Minister Mark Carney has suspended talks and vowed to retaliate with dollar-for-dollar measures.
Why it matters
This escalation in trade tensions between the US and Canada threatens the stability of the USMCA and broader North American economic relations.
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facebook --> twitter --> whatsup --> linkded --> email MORE (3) Messenger Whatsapp --> WASHINGTON/OTTAWA: The US imposed 50% tariffs on some Canadian goods on Saturday after the two longstanding allies failed to reach a trade deal, with each side accusing the other of derailing days of talks.
The tariffs that came into effect just after midnight (0400 GMT) on some $20 billion of Canadian goods - things like wooden ice hockey sticks that are rarely used anymore - are far from an economic game-changer for the largest US trading partner after Mexico. That represents just over 5% of Canada's exports to the US.
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