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Canada walks out as US tariffs near and retaliation is scheduled
Canadian Prime Minister Mark Carney said the US made “uneconomic” last minute demands and warned 50.0% tariffs on some Canadian exports are set to start before retaliatory dollar-for-dollar measures on 8 September.
The Guardian Business reports that Canada walked out of trade negotiations with the United States shortly before 50.0% tariffs on a range of Canadian exports were due to take effect. Canadian officials said the talks had been near completion hours earlier, but that the agreement did not hold as the tariff clock approached.
In a rare press conference, Prime Minister Mark Carney said Canada had been “attacked,” and pledged to respond with what he described as reserves, resilience, and a plan to focus on what the country can control. Carney also said the US made last minute demands that were “uneconomic” and raised concerns about the reliability of any deal, while the US disputed that characterization.
The outlet says retaliatory tariffs are scheduled to begin on 8 September, with Canada proposing dollar-for-dollar measures in response. It also notes that the most contentious topics appear to include tariff treatment for autos, digital and cultural policy, and the US position on veto rights over Canada trade alliances.
According to the article, Canadian ambassador Mark Wiseman said there was no single item that ended the negotiations, but rather a set of issues where the text, or the interpretation of it, did not align with what Canada believed it had agreed to. The piece adds that Canadians have expressed limited trust in the administration’s willingness to avoid additional unilateral tariff actions.