U.S. Slaps 50% Tariffs on $20 Billion of Canadian Goods as Ottawa Vows Matching Levies
Updated
Updated · CBS New York · Aug 22
U.S. Slaps 50% Tariffs on $20 Billion of Canadian Goods as Ottawa Vows Matching Levies
3 articles · Updated · CBS New York · Aug 22
Summary
$20 billion of Canadian products faced new 50% U.S. tariffs early Saturday after a three-day extension failed to produce a trade deal.
Jamieson Greer said Canada refused to finalize terms agreed earlier in the week, while Mark Carney said the progress made still fell short of Canada's objectives.
Carney suspended negotiations and ordered Canada's team back to Ottawa, pledging dollar-for-dollar retaliation to protect Canadian workers and businesses.
The tariffs cover about 5% of Canada's annual exports to the U.S., but they deepen a fight between neighbors that traded $880 billion in goods and services last year.
The clash adds to already strained U.S.-Canada ties over trade, NATO and Trump's repeated threats to make Canada the 51st state.