Canada announced plans to impose punitive tariffs on U.S. imports starting September 8, targeting key sectors such as steel and dairy, following the imposition of 50% tariffs by the United States on approximately $20 billion worth of Canadian goods. The decision comes after failed last-ditch trade talks between the two nations, which collapsed amid disputes over the terms of a potential agreement. Prime Minister Mark Carney stated during a press conference that Ottawa would not accept the U.S. trade offer and would instead retaliate with new tariffs aimed at protecting domestic industries. These measures are set to take effect on the Tuesday following Labor Day, which falls on September 8. Carney emphasized that Canada had previously been open to removing retaliatory tariffs on strategic U.S. sectors, including steel, aluminum, and automobiles, as part of a broader negotiation. However, he made it clear that certain industries deemed essential to Canada's economic stability would remain protected. The breakdown in negotiations followed the U.S. imposition of tariffs on Canadian products early Saturday. These tariffs, affecting around 5% of Canada’s annual exports to the United States, cover a wide range of goods. In response, Canada has prepared matching tariffs, with Carney stating that the country would apply them “dollar for dollar” to safeguard its workers and businesses. Details of the new measures are expected to be released soon, with the focus likely on sectors such as steel and dairy. Carney accused the United States of making last-minute changes to its proposal, which he described as unfair and economically unsound. These changes, he argued, undermined the credibility of any potential agreement. As a result, Canada suspended negotiations and instructed its delegation to return to Ottawa. U.S. Trade Representative Jamieson Greer, however, placed blame on Canada, asserting that Ottawa had refused to finalize a deal even though it had been presented with favorable terms. Carney reiterated that Canada’s goal had never been to reach an agreement at any cost or by any deadline. He also noted that Ottawa does not believe the United States seeks to prevent Canada from continuing its energy exports. This escalation risks further straining the already tense relationship between the two longtime allies and could complicate ongoing efforts to renegotiate the US-Mexico-Canada trade agreement. The situation highlights the deepening rift between the two nations, with both sides accusing each other of uncooperative behavior. Carney acknowledged that Canada recognizes “America has changed” and that the two countries will not revert to their former dynamic. The impending tariff war underscores the challenges of maintaining stable trade relations in an increasingly polarized international environment. As the deadline approaches, the impact of these measures on bilateral trade and global markets remains uncertain.
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