Skip to Content Subscribe My Account Manage My Subscriptions FAQ Newsletters Canada Canadian True Crime Canadian Politics Health World Israel & Middle East Financial Post NP Comment Longreads Puzzmo Diversions Comics NP News Quiz New York Times Crossword Horoscopes Life Eating & Drinking Style Sponsored Play for Ontario Travel Travel Canada Travel USA Travel International Cruises Travel Essentials Culture Books Celebrity Movies Music Theatre Television Business Essentials Advice Lives Told Tails Told Shopping Buy Canadian Home Living Outdoor Living Kitchen & Dining Tech Style & Beauty Personal Care Entertainment & Hobbies Gift Guide Travel Guide Amazon Prime Day Deals Savings National Post Store More Sports Hockey Baseball Basketball Football Soccer Golf Tennis Driving Vehicle Research Reviews News Gear Guide Obituaries Place an Obituary Place an In Memoriam Classifieds Place an Ad Celebrations Working Business Ads Archives Healthing Epaper Manage Print Subscription Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ Newsletters Canada World Financial Post NP Comment Longreads Puzzmo Diversions Life Shopping Epaper Manage Print Subscription HomeCanadaCanadian PoliticsCarney to hold press conference in Ottawa after trade talks collapseJust minutes before a midnight deadline on Friday night, Carney said that Canada was withdrawing from the talksCanadian Prime Minister Mark Carney with Toronto Mayor Olivia Chow during a housing announcement at a construction site in Scarborough, Ontario on Wednesday, August 5, 2026. Photo by Peter Power /PostmediaOTTAWA — Prime Minister Mark Carney will hold a press conference on Saturday morning after suspending trade talks with U.S. President Donald Trump and announcing steep retaliatory tariffs.Enjoy the latest local, national and international news.Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events.Unlimited online access to National Post.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles including the New York Times Crossword.Support local journalism.Enjoy the latest local, national and international news.Exclusive articles by Conrad Black, Barbara Kay and others. Plus, special edition NP Platformed and First Reading newsletters and virtual events.Unlimited online access to National Post.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles including the New York Times Crossword.Support local journalism.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorJust minutes before a midnight deadline on Friday night, Carney said that Canada was withdrawing from the talks because “last-minute changes” to the agreement made by the U.S. “were unfair, uneconomic, and called into question the reliability of any deal.”Canada and the U.S. were engaged in negotiations to reach a deal that would avert new 50 per cent tariffs on $29 billion-worth of Canadian goods. Now, those levies will come into effect and Carney has pledged to match them dollar-for-dollar on U.S. goods.The government also announced on Friday that it would introduce “additional measures to support Canadian workers and businesses” affected by the U.S. tariffs.After the two sides broke off talks, the Americans blamed Canada for the breakdown in negotiations.“Despite the U.S. offer to Canada to receive the best treatment of any major exporter to our market, new demands and walk backs of other commitments by Canada have upended the careful balance reached in the past days,” said U.S. Trade Representative Jamieson Greer, in a statement posted on social media on Friday night.Carney will hold a press conference in Ottawa at 11 a.m. on Saturday.More to come.National PostOur website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark nationalpost.com and sign up for our daily newsletter, Posted, here. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.