- BIST10011,572-1.28%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,182.70+0.04%
- INTEREST37.00%-1.00
- BITCOIN82,421+0.50%
- October 19, 20269°
- BIST10011,572-1.28%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,182.70+0.04%
- INTEREST37.00%-1.00
- BITCOIN82,421+0.50%
- October 19, 20269°
Canada will respond to US tariffs of 50 percent
Canadian Prime Minister Mark Carney announced that Canada would respond to the 50 percent US tariffs that took effect on Saturday. The tariffs cover $20 billion worth of goods, accounting for about 5 percent of Canada’s annual goods exports to the United States.
Canadian Prime Minister Mark Carney announced that Canada would respond to the 50 percent tariffs imposed by the United States on certain Canadian products. The tariffs cover goods with a total value of approximately $20 billion.
As the United States’ new tariffs took effect on Saturday, approximately 5 percent of Canada’s total annual goods exports to the United States was affected.
Ottawa suspends negotiations
In a written statement, Carney said the United States had imposed tariffs on one of its closest allies and that relations with Washington could not return to the way they were before.
Carney said trade negotiations with the United States had been suspended because of the new tariffs. He said last-minute changes made by the United States to the proposed terms were unfair and offered no economic benefit. The Canadian prime minister said Canada would respond to protect workers and companies.
US proposal for an agreement
US Trade Representative Jamieson Greer, meanwhile, said Canada had refused to finalize the agreement on the terms that had been negotiated. Greer said the US proposal was forward-looking and envisioned a historic economic and national security partnership.
The framework previously announced by the Office of the United States Trade Representative includes broad access to the Canadian market for US products, commitments on economic security and compliance with digital trade rules.
The proposal also contains provisions aimed at protecting the US market and workers in cooperation with Canadian partners.
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