US-Canada trade talks collapsed at the last moment, and new 50% tariffs were imposed

US-Canada trade talks collapsed at the last moment, and new 50% tariffs were implemented on billions of dollars’ worth of Canadian goods. Mark Carney, Canada’s prime minister, pledged to “retaliate dollar for dollar.”

According to a statement from the Office of the U.S. Trade Representative, these tariffs cover hundreds of categories of imported goods from Canada, including particleboard, alcoholic beverages, electrical equipment, and hockey gear, with a value of about $20 billion.

Based on a report by Canada’s CBC, Carney said Canada will stop its trade talks with the United States and has recalled its negotiating team.

In a statement, the U.S. trade representative said the Canadian negotiators’ last-minute demands disrupted the balance reached.