Canada-US trade talks collapse as Carney vows dollar-for-dollar tariff response
&imwidth=600&imheight=450&format=webp&quality=medium "Canada-US trade talks collapse as Carney vows dollar-for-dollar tariff response")
Trump-Carney Photograph: (AFP)
Canada PM Mark Carney calls new US tariffs a ‘miscalculation’ as trade talks collapse, promising dollar-for-dollar retaliation from 8 September
Canada's Prime Minister Mark Carney has described a fresh wave of US tariffs on Canadian goods as a ‘miscalculation’ aimed at ‘hurt and divide us’, following the collapse of trade talks between Ottawa and Washington late on Friday. Speaking to Canadians on Saturday morning, Carney said he walked away from a potential agreement because he was unwilling to 'compromise Canada's sovereignty'. "They asked too much and they offered too little," Carney said in his address.
The prime minister announced that Canada will respond to the new US tariffs with matching measures ‘dollar-for-dollar’ from 8 September. The retaliatory tariffs are expected to cover products including steel, dairy, appliances and electronics. US President Donald Trump has yet to comment publicly on Carney's remarks. The two countries had appeared increasingly optimistic about reaching a trade agreement earlier this week. However, negotiations broke down on Friday night, with both sides accusing the other of introducing last-minute changes.
Following the collapse of the talks, Canadian exports will face new 50% US tariffs on a range of goods. These will come on top of existing American tariffs affecting Canadian steel, aluminum, automobiles and lumber. Carney said Canada was retaliating ‘reluctantly’ but insisted that the measures were necessary to protect the country's economic interests. He said further details of Canada's counter-measures would be announced in the coming days.
Saturday's speech was Carney's first major address to Canadians since he announced late Friday that an agreement would not be reached. At the time, he accused US negotiators of making ‘last-minute changes’ that he described as ‘unfair and uneconomic’.
US negotiators, meanwhile, accused Canada of introducing ‘new demands and walk backs’ involving terms that they said had already been agreed earlier in the week. The breakdown marks a fresh escalation in trade tensions between the two North American neighbours, with businesses and consumers now facing greater uncertainty as both governments prepare to impose additional tariffs.
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