The U.S. has imposed 50% tariffs on some Canadian goods after Washington and Ottawa failed to reach a trade agreement. The new duties affect about $20 billion worth of Canadian exports, including products such as hockey sticks, though they cover only a small share of Canada’s trade with the U.S.
Canadian Prime Minister Mark Carney suspended negotiations and said Canada would retaliate “dollar for dollar.” The two sides had appeared close to a deal that could have reduced tariffs on steel, aluminum and autos, but talks broke down after disagreements over additional concessions.
The latest tariffs could make broader negotiations over the U.S.-Mexico-Canada trade agreement even harder. They also put already struggling industries at greater risk of job losses and business closures, adding another layer of uncertainty to the economic relationship between two longtime allies.
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