Trade talks break off between Canada and the United States
Prime Minister Mark Carney has suspended trade negotiations with the United States, setting the stage for 50 per cent tariffs on billions of dollars worth of Canadian goods.
The major decision came just ahead of a deadline for Canada and the U.S. to reach an agreement, with Carney’s office announcing that Canadian negotiators have been directed to return to Ottawa.
In a statement issued last night, the Prime Minister said Canada’s negotiating team worked hard and in good faith to defend the interests of Canadians, right up until the final minute.
The move means the United States will proceed with 50 per cent tariffs targeting approximately $20 billion worth of Canadian products.
The tariffs will affect a range of Canadian exports, including everything from cement to hockey sticks.
The negotiations had been aimed at reaching an agreement that would protect Canadian exporters and avoid additional costs for businesses on both sides of the border.
The tariffs now threaten to increase the price of Canadian goods entering the American market, while potentially putting further pressure on industries already dealing with uncertainty.
For Canada, the focus now shifts back to Ottawa, where the federal government will have to determine its next steps and whether negotiations with Washington can eventually resume. Canada will match U.S. tariffs dollar for dollar.
NTV News Is tracking the story and will have more detail details as it becomes available.
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