The United States imposed 50% tariffs on $20 billion worth of Canadian products early Saturday, and Canada said it would retaliate beginning Sept. 8 after last-ditch negotiations failed to resolve the latest strain in relations between the historic allies.
\n\nWASHINGTON (AP) — The United States and Canada, historic allies along an undefended border, fell deeper into a trade war Saturday marked by angry recriminations and new tariffs that are expected to raise prices for products in both countries.
\n\nEach side blamed the other for the collapse of negotiations in Washington late Friday, leading the U.S. to impose 50% tariffs on $20 billion worth of Canadian goods and Canada setting Sept. 8 as the start of its retaliatory penalties.
\n\nPresident Donald Trump’s import taxes will hit about 5% of what Canada ships to the United States every year, ranging from hockey sticks to tongue depressors. Prime Minister Carney said Ottawa would respond with targeted tariff protection for industries exposed to the new U.S. duties, including some steel products. He also mentioned the dairy, appliance, agricultural equipment, pulp and paper and electronics sectors.
\n\nNo further talks were planned. Whatever the eventual outcome, a loss of trust seems one of the earliest casualties.
Original source: https://apnews.com/business