CNN: Canada suspends trade talks with US, will match Trump tariffs, Carney says
Canada has suspended trade negotiations with the United States, Prime Minister Mark Carney said late Friday, adding that the country would match US tariffs imposed at midnight dollar for dollar.
The two sides had been “making important progress” toward a deal to avoid Washington’s implementation of 50% tariffs on a raft of Canadian goods at midnight E.T., however they were unable to come to an agreement that would “meet our objectives for Canadians,” Carney said in a statement.
“As a result, this evening, I have decided to suspend trade negotiations with the US and have directed Canada’s negotiators to return to Ottawa,” he said.
“At midnight tonight, the US intends to impose a 50% tariff on roughly $28 billion of Canadian goods. Canada will match those tariffs dollar for dollar to protect our workers and businesses.”
CNN has reached out to the White House and the Office of the US Trade Representative.
This is a breaking news story and will be updated.
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Trump's tactics are straight out of Art of the Deal - reach an agreement and then, immediately before signing, add a something to the final terms - your won't walk away from a final deal regardless of how outrageous that something is.
That said, does anyone actually believe that Trump will honor any agreement he signs?