Canada Suspends US Trade Talks as Carney Matches Tariffs
Via Prime Minister of Canada
The Story
Canada suspended trade negotiations with the United States after Prime Minister Mark Carney judged last minute changes to Washington's proposed terms unfair.
Ottawa had pursued a deal that kept most Canadian goods free of tariffs, cut duties on key strategic industries, shielded small and medium businesses, and preserved Canadian sovereignty.
Carney said progress in recent weeks fell short of those objectives and ordered Canada's negotiators home, arguing the revised American offer was uneconomic and called into question the reliability of any deal.
The United States set a 50 percent tariff on roughly 28 billion dollars of Canadian goods to take effect at midnight, and Canada will match those tariffs dollar for dollar.
New measures to support Canadian workers and businesses arrive in the coming days, on top of nearly 25 billion dollars already committed.
Carney pointed to almost 500 billion dollars in major infrastructure projects, accelerating growth, and free trade access to 1.5 billion consumers that Canada expects to double this year.
Canada is betting that building at home and diversifying abroad now matters more than a deal with Washington, and says it will set its own course.
Ottawa had pursued a deal that kept most Canadian goods free of tariffs, cut duties on key strategic industries, shielded small and medium businesses, and preserved Canadian sovereignty.
Carney said progress in recent weeks fell short of those objectives and ordered Canada's negotiators home, arguing the revised American offer was uneconomic and called into question the reliability of any deal.
The United States set a 50 percent tariff on roughly 28 billion dollars of Canadian goods to take effect at midnight, and Canada will match those tariffs dollar for dollar.
New measures to support Canadian workers and businesses arrive in the coming days, on top of nearly 25 billion dollars already committed.
Carney pointed to almost 500 billion dollars in major infrastructure projects, accelerating growth, and free trade access to 1.5 billion consumers that Canada expects to double this year.
Canada is betting that building at home and diversifying abroad now matters more than a deal with Washington, and says it will set its own course.
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