Trade negotiations between the United States and Canada ended in failure on Friday night, just minutes before the midnight deadline.
As of this moment, 50 percent tariffs on 20 billion dollars worth of Canadian goods are taking effect.
Canadian Prime Minister Mark Carney stated that the country would respond in kind, imposing reciprocal "dollar-for-dollar" tariffs to protect its workers and businesses.
According to Carney, significant progress had been made in recent weeks, but it did not meet Canada's objectives. Ultimately, he suspended the talks and recalled the delegation to Ottawa.
Carney placed the blame on the American side: "The latest changes to the terms proposed by the U.S. were unfair, uneconomical, and called into question the reliability of any deal."
"Canada has what the world needs. And we will not allow any country to determine our future," he added.
U.S. Trade Representative Jamieson Greer responded that Canada had refused to finalize the deal on terms agreed upon earlier this week.
The U.S. offered Canada the best terms among major exporters, including significant tariff reductions on steel, aluminum, automobiles, and lumber.
In exchange, there were plans for supply chain coordination in the aerospace industry, cooperation on critical minerals, and the start of formal negotiations to update the USMCA agreement.
However, according to Greer, new demands and backtracking by Canada disrupted the balance that had been achieved.
