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US Treasury Secretary Scott Bessent urged G20 nations to adopt tariff-like measures to counter trade imbalances, singling out China for its export surge. He warned that non-market economies are 'draining' global growth, though critics note US tariffs have raised consumer costs.
Canadian Prime Minister Mark Carney said the US must be "serious" for trade talks, criticizing Washington's approach. He insisted Canada will not accept unfavorable terms and will not back down amid escalating tariff tensions.
Canadian Prime Minister Mark Carney has criticized the U.S. administration, urging Washington to 'get serious' as trade tensions mount. With Canada set to retaliate with tariffs on U.S. goods, the two nations remain at odds following the collapse of trade talks.
As the US-Canada trade war escalates, experts warn that Canada could lose up to 100,000 jobs and face a recession if the USMCA collapses. With tariffs rising on both sides, key sectors like autos and manufacturing are bracing for severe pain.
Canada’s chief trade negotiator with the US, Dominic LeBlanc, welcomed Washington’s shift on French-language and cultural promotion measures, saying they will not be subject to US tariffs. The move comes amid ongoing tariff tensions between the two nations, with Canada having announced counter-tariffs on US goods.
Despite President Donald Trump's expectations of Canadian concessions, Ottawa has retaliated with tariffs on US goods, causing harm to American consumers. The dispute has escalated into personal attacks and threats, affecting prices and trade relations.
Toilet paper and paper products are among the hardest-hit items as US-Canada trade talks collapse, with tariffs estimated at 25% to 50%. American consumers may face higher prices for this essential item starting September 8.
Canada announced retaliatory tariffs on CA$27.6 billion (US$19.9 billion) of U.S. goods, effective September 8, after trade talks with Washington collapsed. The measures target over 700 products, including steel, aluminum, and consumer goods, with rates ranging from 15% to 50%.
President Trump announced he is considering renaming Lake Ontario to 'Lake America' amid the escalating U.S.-Canada trade war. The move echoes his earlier attempt to rename the Gulf of Mexico. Canadian officials dismissed the remarks, saying they won't respond to social media posts.
