Global Markets
Home›Global Markets›Trade & Tariffs›Carney rejects an unfair US trade deal as tariffs esca…
Carney rejects an unfair US trade deal as tariffs escalate
The breakdown triggered 50.0% US tariffs on about US$20 billion in goods, while Canada plans retaliatory duties on US steel and dairy starting September 8.
Prime Minister Mark Carney said Canada will not accept what he called an unfair bilateral trade deal with the United States as negotiations deteriorated, with the stance taken as Canadians grow weary of what SCMP Economy described as Washington provocations.
Carney walked away just before a deadline set by President Donald Trump, prompting 50.0% US tariffs on some US$20 billion worth of goods including hockey sticks and cement effective Saturday, according to SCMP Economy citing Agence France-Presse.
Carney said Canada would respond with retaliatory duties on US goods, specifically steel and dairy products, starting September 8, arguing that the US is using tariffs against close allies and treating economic integration as a tool.