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Carney says US 'attacked' Canada with tariffs and promises retaliation
Canadian Prime Minister Mark Carney outlined his country's plans for "dollar-for-dollar" retaliatory tariffs set to hit American exporters on Sept. 8, saying he is making the move "reluctantly" in response to the breakdown of trade negotiations with the U.S.
"This is a focused response, a focused response to protect and defend our industries and allow them to compete with U.S. products in the Canadian market," Carney said.
After U.S.-Canada trade talks collapsed on Friday evening, the Trump administration's 50% tariffs went into effect overnight, expected to impact about $28 billion worth of Canadian products coming across the border into the U.S. Carney said he pulled Canada's negotiators from Washington, D.C., after U.S. trade envoys made "last-minute changes" to the framework, though the U.S. has put the onus on Canada for backing away from terms the U.S. said both parties agreed upon earlier in the week.