Trade talks between Canada and the United States failed at the last minute on Friday night, reigniting the North American trade war, with Ottawa vowing to match Washington’s tariffs.
Despite hopeful statements from both sides that a deal would be struck to avoid 50% US tariffs on a raft of Canadian goods locking in at the midnight deadline, the talks faltered, with Canadian Prime Minister Mark Carney saying the neighbors could not reach an agreement to “meet our objectives.”
“As a result, this evening, I have decided to suspend trade negotiations with the US and have directed Canada’s negotiators to return to Ottawa,” Carney said in a statement.
Now, 50% levies on $20 billion worth of Canadian goods have taken effect.
“Canada will match those tariffs dollar for dollar to protect our workers and businesses,” Carney added.
