US-Canada trade talks collapse and tariffs begin
Trade negotiations between the United States and Canada have collapsed ahead of the implementation of a 50% tariff on Canadian goods worth billions of dollars, as Canadian Prime Minister Mark Carney announced the suspension of talks and his readiness to impose retaliatory tariffs to protect the Canadian economy. Meanwhile, the parties are exchanging blame for the failure of the agreement. The United States is nearing the imposition of tariffs on approximately $20 billion worth of Canadian products such as timber and electrical equipment, increasing tensions between the allies and threatening to escalate the trade war, amid ongoing uncertainty about future American options.
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