PIVOT:
Carney urged a further shift from the US, warning that while there would be a cost to taking action, it would not compare to the cost of standing still
The US on Tuesday banned a broad swath of Canadian alcoholic beverages, motorcycles and dairy products from import, sharply escalating an already acrimonious trade spat.The import bans, which go into effect on Sept. 29 and were published on the White House’s Web site, came after Canada’s own retaliatory tariffs on US goods took effect after midnight on Tuesday.Those Canadian levies themselves followed 50 percent tariffs that the US imposed on US$20 billion of Canadian goods last month, after several rounds of negotiations collapsed.
People take part in a yoga class on the front lawn of the Canadian Parliament in Ottawa on Tuesday.
The breakdown has widened a rift between the longtime allies, who have blamed each other for the failed talks, spurred Canadian Prime Minister Mark Carney to urge a further shift away from Canada’s biggest trading partner and cast doubt on the viability of the US-Mexico-Canada Agreement.“We have everything we need to pivot and prosper,” Carney said on Tuesday in a video posted on YouTube.
