Greer Blames Canada for Failed Tariff Talks as 50% Duties Hit $20 Billion in Goods
Updated
Updated · CNBC · Aug 24
Greer Blames Canada for Failed Tariff Talks as 50% Duties Hit $20 Billion in Goods
3 articles · Updated · CNBC · Aug 24
Summary
Jamieson Greer said U.S.-Canada talks were close to a deal last Tuesday night, but collapsed in the final hours when Ottawa sought additional concessions.
The breakdown left President Donald Trump's new 50% tariffs on roughly $20 billion of Canadian goods in force from 12:01 a.m. ET Saturday, covering products including wine, hockey sticks and cement.
Greer said Washington had already cut proposed tariffs on steel, aluminum, autos and softwood lumber, while Canadian Prime Minister Mark Carney countered that the U.S. made unfair last-minute changes.
Canada has vowed dollar-for-dollar retaliation, business groups on both sides warned of immediate cost increases for exposed industries, and the Canadian dollar weakened against the U.S. dollar on Monday.