What happenedPresident Donald Trump’s 50% tariffs on $20 billion in Canadian imports took effect Saturday after negotiations collapsed. Canadian Prime Minister Mark Carney said U.S. negotiators “asked too much and offered too little,” and Ottawa would roll out “dollar for dollar” retaliatory tariffs starting Sept. 8. Trump’s latest tariffs cover about 5% of Canadian imports, ranging from wine, dairy and hockey sticks to overcoats and some Christmas ornaments.

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