The Canadian government on Tuesday will lay out a slate of retaliatory trade moves in response to President Donald Trump’s latest wave of tariffs.
\n\nCanada’s finance minister and other senior officials will make the announcement at an event in Ottawa, Ontario at 11 a.m. ET, according to the nation’s finance ministry.
\n\nThe announcement comes after the United States hit scores of Canadian products with new 50% tariffs that went into effect early Saturday. The new levies followed weeks of trade negotiations broke down, pl the longtime allies on unfamiliar footing.
\n\nPrime Minister Mark Carney said he pulled the plug on a deal late Friday only after Washington proposed “unfair” and “uneconomic” terms at the last minute.
\n\n“We could not accept what the U.S. had offered, nor could we give what they asked,” said Carney.
\n\nAmerican officials refuted Carney’s account of why the talks collapsed. U.S. Trade Representative Jamieson Greer said Monday that he had “sought to accommodate the Canadians by … cutting tariffs in half on steel, on aluminum, and extensively reducing them on, on autos and even on things like, like softwood lumber.”
\n\n“They simply wanted more,” Greer told CNBC.
\n\nCarney initially vowed to retaliate “dollar-for-dollar” on Trump’s weekend…
Original source: https://www.nbcnews.com/business