US-Canada trade talks collapsed before a midnight deadline, triggering 50% tariffs on $20B in Canadian goods with retaliatory measures expected

The fallout marks the latest development in the tenuous relationship between Trump and Carney that has centered on the push-and-pull of tariff talks.

The United States imposed 50% tariffs on about $20 billion in Canadian products after trade negotiations collapsed, prompting Canada to vow dollar-for-dollar retaliation.

Canadian Prime Minister Mark Carney vowed to retaliate \