The US has officially imposed 50% tariffs on Canadian goods worth more than $20 billion after trade negotiators from both countries failed to finalize an agreement, despite three days of talks in Washington DC.
The deadline set by US President Donald Trump expired at midnight Saturday, and officials from both nations confirmed that no deal was reached. Canadian Prime Minister Mark Carney declared that his country would impose "dollar-for-dollar" retaliatory tariffs on US goods.
In a statement, Carney said: "In recent weeks, we have made significant progress in improving Canada's position to secure the best possible deal with the US. However, that progress has not been enough to meet our objectives for the benefit of Canadians."
The Canadian prime minister also quickly outlined measures the government would take to shield citizens from the impact of the trade war, including new support programs for workers and businesses that will be announced in the coming days.
On the US side, Trade Representative Jamieson Greer blamed Canada, calling it a "missed opportunity for Canada to cooperate with the US." Greer said: "Canada refused to finalize a trade deal on the terms agreed earlier this week. Although the US offered Canada the most favorable treatment among major exporters to our market, Canada's new demands and the withdrawal of previous commitments broke the delicate balance achieved in recent days."
This is the latest development in a series of trade tensions between the two countries. Trump imposed tariffs on key Canadian imports at the start of his second term last year, prompting Ottawa to respond with a range of countermeasures. Since then, both sides have engaged in back-and-forth actions as Trump periodically issued new tariff threats.
