US imposes 50 percent tariffs on $20bn in Canadian goods after talks fail

Al Jazeera:

The United States has imposed 50 percent tariffs on about $20bn worth of Canadian goods after trade negotiators from the two countries failed to finalise a trade deal despite three days of talks in Washington, DC.

With a deadline imposed by US President Donald Trump expiring at 12:01am Eastern Time (04:01 GMT) on Saturday, US and Canadian officials made clear that an agreement had not been reached.

Canadian Prime Minister Mark Carney said his country would match the new tariffs “dollar for dollar”.

“In recent weeks, we made important progress toward improving Canada’s position as having the best deal in the world with the US,” said Carney in a statement. “However, that progress has not been enough to meet our objectives for Canadians.”

Carney quickly outlined what his government would do to protect Canadians from the impact of the trade war, saying that it would introduce in the coming days new measures to support workers and businesses.

US Trade Representative Jamieson Greer pinned the blame on Canada, saying that it was “a missed opportunity for Canada to partner with the United States”.

“Canada declined to finalise the trade deal under the terms agreed earlier this week,” Greer said. “Despite the US offer to Canada to receive the best treatment of any major exporter to our market, new demands and walkbacks of other commitments by Canada have upended the careful balance reached in the past days.”

The tariffs will hit about 5 percent of Canadian exports to the US, including electronics, industrial machinery and dairy products, adding to pre-existing US tariffs on steel, lumber and autos.