Canadian Prime Minister Mark Carney announced the suspension of trade negotiations with the United States following the collapse of talks and Washington's imposition of 50% tariffs on approximately $20 billion worth of Canadian goods.
"I have suspended trade negotiations with the United States and instructed the Canadian negotiating team to return to Ottawa. We cannot accept their conditions," Carney stated.
According to the prime minister, his team conducted the discussions "in good faith until the final moment," but a series of American demands presented during the talks crossed a red line for Canada.
In response to the American tariffs, Carney announced that beginning September 8, Canada will impose retaliatory tariffs on a range of U.S. products, including steel, dairy products, electronics, and electrical appliances. "Canada will match Washington's tariffs dollar for dollar," the prime minister declared.
The crisis comes after recent days had suggested the two sides were approaching an agreement that could have reduced tariffs in the automotive, steel, and aluminum sectors. No date has been set for resuming talks, and the confrontation threatens to further intensify the trade war between the two neighboring nations.
