US Imposes 50% Tariffs on $20 Billion Worth of Canadian Products
The United States has imposed 50 percent tariffs on $20 billion worth of Canadian products, effective early Saturday. Canada promptly retaliated, stating that the move escalates the trade conflict and threatens the future of the North American Free Trade Agreement (NAFTA) between the US, Canada, and Mexico.
Canadian Prime Minister Mark Carney expressed disappointment, attributing the breakdown to last-minute changes in US proposed terms, which he deemed unfair and uneconomic. He suspended negotiations and directed Canada’s negotiating team to return to Ottawa.
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