Canada suspends trade talks with U.S. and matches new tariffs dollar for dollar

Canada suspends trade negotiations with USA and match tariffs dollar for dollar

Prime Minister Mark Carney announced the suspension of Canada-U.S. trade negotiations, citing unfair and uneconomic last-minute changes in U.S. terms. Effective at midnight, the U.S. will impose a 50% tariff on roughly $28 billion of Canadian goods; Canada will retaliate with matching tariffs. The government will introduce additional support measures, building on nearly $25 billion in aid over the past 18 months. Carney emphasized Canada's strategy of diversification and domestic strength, noting accelerated growth and record foreign investment.