WorldEconomy
US and Canada escalate tariffs, but analysts see possible off-ramp
The US and Canada have imposed new tariffs on each other's goods, escalating a trade dispute. Despite the tough talk, analysts say a deal is possible.
The US and Canada have escalated their trade war, imposing new tit-for-tat tariffs on each other's goods. Canadian Prime Minister Mark Carney responded to new 50% US tariffs on certain Canadian products by placing tariffs on about $20 billion worth of American imports, including steel, dairy products, appliances, and farm equipment. "You're at war when you get attacked. We got attacked," Carney said. Ontario Premier Doug Ford was also quoted on the dispute.
Despite the escalation, analysts suspect the longtime allies will eventually reach a deal to end a conflict neither side really wants. Former US trade negotiator Wendy Cutler said, "If there is political will, there is an off ramp," suggesting a compromise remains possible. The prospects for compromise appeared bleak on Tuesday, but the article notes that both sides have pulled back from all-out trade war before.
WorldEconomy
US and Canada escalate tariffs, but analysts see possible off-ramp
The US and Canada have imposed new tariffs on each other's goods, escalating a trade dispute. Despite the tough talk, analysts say a deal is possible.
The US and Canada have escalated their trade war, imposing new tit-for-tat tariffs on each other's goods. Canadian Prime Minister Mark Carney responded to new 50% US tariffs on certain Canadian products by placing tariffs on about $20 billion worth of American imports, including steel, dairy products, appliances, and farm equipment. "You're at war when you get attacked. We got attacked," Carney said. Ontario Premier Doug Ford was also quoted on the dispute.
Despite the escalation, analysts suspect the longtime allies will eventually reach a deal to end a conflict neither side really wants. Former US trade negotiator Wendy Cutler said, "If there is political will, there is an off ramp," suggesting a compromise remains possible. The prospects for compromise appeared bleak on Tuesday, but the article notes that both sides have pulled back from all-out trade war before.