Three days of talks between US and Canadian trade representatives in Washington DC to finalize the trade deal have failed. The country has since announced a 50 percent tariff on nearly $20 billion worth of Canadian goods.
When the deadline given by US President Donald Trump ended at 12:01 PM last Friday, the tariffs were announced when the trade representatives of the two countries announced that the agreement had not been reached. Aljazeera news.
The tariffs will affect about 5 percent of Canada’s total exports to the United States, including electronics, industrial machinery and dairy products. It has been re-added to US tariffs on steel, wood and cars.
Meanwhile, in an immediate response, Canadian Prime Minister Mark Carney warned that he would replace the ‘dollar with the dollar as a countermeasure against the new tariffs.
In a statement, he said, “In recent weeks, we have made significant progress in improving Canada’s position in making the world’s best deal with the United States”. But that progress was not enough to meet our goals for Canadians.
He said his government will take new steps to help workers and businesses in the coming days to protect Canadians from the effects of the trade war.
However, US Trade Representative Jamieson Greer blamed Canada for the failure of the talks. He claimed it was a missed opportunity for Canada to partner with the US.
He said Canada refused to finalize the trade agreement under the terms agreed at the beginning of this week. We were offered to give them the best advantage over any other major exporter in the market. But they have reversed the delicate balance achieved in the past few days as they backtracked on new demands and other commitments.
Earlier, Trump imposed tariffs on major imports from Canada early in his second term, accusing him of discriminating against American goods last year. In response, Ottawa also took countermeasures. Since then, the two countries have been at a constant trade war, and Trump has been threatening new tariffs in stages.
However, Trump told the media last Friday that he hopes to reach an agreement with Canada, which has not been proven true in the end. As a result, the business of many Canadians exporting goods to the United States may be severely affected.
