Canadian Prime Minister Mark Carney said Tuesday that he and Donald Trump have agreed to intensify negotiations on a trade agreement between Canada, the U.S. and Mexico a day after the U.S. president announced 50% tariffs on most Canadian goods.

The Canadian leader’s carefully worded statement stopped short of threatening retaliatory tariffs but warned that the move would raise costs for American families.

Mark Carney says Canada is ready to intensify U.S. trade talks after Trump's new tariffs, calling them a USMCA violation.