Canadian PM Calls Trump's New Tariffs a 'Miscalculation' After Trade Talks Collapse
Canadian Prime Minister Mark Carney has described a new round of US tariffs on Canada as a regrettable 'miscalculation' aimed at 'hurting and dividing us,' after trade discussions failed late on Friday.
Carney stated that he refused to sign off on a deal because he was unwilling to 'compromise Canada's sovereignty'.
'They demanded too much and offered too little,' Carney remarked during an address to Canadians on Saturday morning.
The Prime Minister further announced that Canada would reciprocate US tariffs on a dollar-for-dollar basis, effective September 8th, impacting goods such as steel, dairy, appliances, and electronics. Donald Trump has not yet responded.
Earlier in the week, both nations had expressed optimism about reaching an agreement. However, talks dissolved Friday night with both sides accusing the other of introducing last-minute changes.
With the collapse of negotiations, Canada will now face an additional 50% US tariff on a variety of its goods, on top of existing tariffs on Canadian steel, aluminum, automobiles, and lumber.
Carney emphasized that Canada's retaliation is being done 'reluctantly' to safeguard its interests. He indicated that details of the counter-measures would be disclosed in the coming days.
Saturday's speech by Carney marks his first public address to Canadians since announcing late Friday that a deal would not materialize. He attributed this to the Americans making 'unfair' and 'uneconomic' 'last-minute changes'.
Meanwhile, US negotiators contended that Canada made 'new demands and walk backs' on previously agreed-upon terms.
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