Ottawa: Canadian Prime Minister Mark Carney criticized U.S. President Donald Trump's new round of tariffs, labeling them a "huge mistake" aimed at causing damage and division. The criticism followed the breakdown of trade negotiations between Canada and the United States on Friday night. In response to the failed talks, the U.S. implemented a 50% tariff on over $20 billion worth of Canadian goods at midnight, affecting approximately 5% of all Canadian exports to the U.S. The tariffs target products including wine, dairy, cement, clothing, fishing, and hockey equipment, alongside existing tariffs on steel, aluminum, automobiles, and lumber. Prime Minister Carney announced that Canada would retaliate with equivalent tariffs on U.S. goods, effective September 8th, affecting steel, dairy products, electrical appliances, and electronic components. Notably, opinion polls indicate that a majority of Canadians oppose making any concessions to the U.S. leader.
According to Thai News Agency, Canada previously criticized the United States for offering a "too much, too little" deal and attempting to alter terms at the last minute, deeming it unfair and contrary to economic principles. The U.S. proposal was seen as an attempt to limit Canada's ability to negotiate trade deals with other nations, infringing on national sovereignty. Conversely, U.S. Trade Representative Jamieson Greer accused Canada of introducing new demands and rescinding previously agreed-upon commitments, suggesting that this was a missed opportunity for cooperation with one of the fastest-growing economies among the G7 industrialized nations.
The ongoing trade dispute is viewed as a critical turning point that could jeopardize the United States-Mexico-Canada Agreement (USMCA), amidst what Prime Minister Carney describes as Canada's involvement in a "trade war" with its southern neighbor. Analysts and business groups from both countries have expressed concern that the imposition of retaliatory tariffs will lead to inflation and job losses.
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