U.S.-Canada trade talks collapse : NPR

Negotiations over trade between the United States and Canada collapsed on Friday night, just before a midnight deadline for 50% tariffs on $20 billion of Canadian goods was set to take effect.

Canadian Prime Minister Mark Carney stated on social media late Friday that Canada would impose equivalent tariffs to safeguard its workers and businesses. He noted that while progress had been made toward enhancing Canada’s trade position with the U.S., it did not meet the country’s goals. Consequently, Carney decided to halt negotiations and instructed the negotiators to return to Ottawa.

Carney attributed the breakdown in talks to the U.S., citing last-minute changes in proposed terms as unfair and unreliable. He asserted that Canada would not allow any nation to dictate its future.

After midnight, U.S. Trade Representative Jamieson Greer responded on social media, stating that Canada had refused to finalize the trade agreement based on terms agreed upon earlier in the week.

Greer mentioned that despite offering Canada the best treatment of any major exporter to the U.S. market, new demands and retractions by Canada disrupted the balance achieved in recent days. He highlighted that the U.S. had agreed to significant tariff reductions on steel, aluminum, autos, and lumber.

The offer also included coordination on aerospace supply chains, actions against unfair trade practices, cooperation on critical minerals, increased enforcement against imports produced with forced labor, and the announcement of U.S.-Mexico-Canada Agreement negotiations.