U.S. Enacts 50% Tariffs on $20 Billion Canadian Goods as Both Sides Blame Talks Collapse
Updated
Updated · CNBC · Aug 24
U.S. Enacts 50% Tariffs on $20 Billion Canadian Goods as Both Sides Blame Talks Collapse
3 articles · Updated · CNBC · Aug 24
Summary
$20 billion of Canadian goods were hit with new 50% U.S. tariffs at 12:01 a.m. ET Saturday after negotiators left Washington without a deal.
Jamieson Greer said Ottawa derailed an agreement by changing its demands in the final hours, saying negotiators had been close to announcing a deal Tuesday night.
Mark Carney gave the opposite account, accusing Washington of unfair last-minute changes and saying Canada will answer with dollar-for-dollar tariffs on U.S. goods.
Wine, hockey sticks, cement and other imports are affected, and business groups in both countries warn the duties will raise costs and disrupt exposed industries.