WorldEconomy
US and Canada escalate trade war with new tariffs on each other's goods
The US and Canada have imposed fresh tit-for-tat tariffs, escalating their trade conflict. Canada's Prime Minister Mark Carney announced retaliatory tariffs on about $20 billion in US imports after the US imposed 50% tariffs on certain Canadian goods. Analysts say a deal to end the dispute remains possible.
The United States and Canada have intensified their trade war, with each side imposing steep new tariffs on the other's goods. The escalation came as Canadian Prime Minister Mark Carney responded to new 50% US tariffs on certain Canadian products by announcing retaliatory tariffs on about $20 billion worth of American imports, including steel, dairy products, appliances and farm equipment.
Carney, who came to power last year on a promise to stand up to US President Donald Trump, said: "You're at war when you get attacked. We got attacked."
Despite the harsh rhetoric from both sides, analysts suspect the longtime allies will eventually strike a deal to end a conflict neither really wants. Former US trade negotiator Wendy Cutler said, "If there is political will, there is an off ramp," suggesting a path toward de-escalation could still exist.
- US
- Canada
- tariffs
- US-Canada trade war
From
WorldEconomy
US and Canada escalate trade war with new tariffs on each other's goods
The US and Canada have imposed fresh tit-for-tat tariffs, escalating their trade conflict. Canada's Prime Minister Mark Carney announced retaliatory tariffs on about $20 billion in US imports after the US imposed 50% tariffs on certain Canadian goods. Analysts say a deal to end the dispute remains possible.
The United States and Canada have intensified their trade war, with each side imposing steep new tariffs on the other's goods. The escalation came as Canadian Prime Minister Mark Carney responded to new 50% US tariffs on certain Canadian products by announcing retaliatory tariffs on about $20 billion worth of American imports, including steel, dairy products, appliances and farm equipment.
Carney, who came to power last year on a promise to stand up to US President Donald Trump, said: "You're at war when you get attacked. We got attacked."
Despite the harsh rhetoric from both sides, analysts suspect the longtime allies will eventually strike a deal to end a conflict neither really wants. Former US trade negotiator Wendy Cutler said, "If there is political will, there is an off ramp," suggesting a path toward de-escalation could still exist.
- US
- Canada
- tariffs
- US-Canada trade war
From