Canadian Prime Minister Mark Carney said on Saturday that his country will impose retaliatory tariffs on goods coming from America from September 8. This move by Canada has further increased the trade dispute between the two countries.
Canadian Prime Minister Mark Carney said on Saturday that his country will impose retaliatory tariffs on goods coming from America from September 8. This move by Canada has further increased the trade dispute between the two countries. Let us tell you that America has imposed 50 percent tariff on Canadian products worth about US dollars 20 million. The talks between the two countries, which were going on as a last effort in Washington late on Friday night, also failed.
What did the Prime Minister of Canada say?
Carney said Canada would impose retaliatory tariffs of the same amount. This duty will be imposed on steel, dairy products, home appliances, agricultural equipment, paper and electronic goods. Carney said that details on which products will be charged will be given in the coming days. In Ottawa, Carney also said Canada was prepared to remove the rest of its retaliatory tariffs on steel, aluminum and vehicles if the US made a significant cut in its tariffs.
This led Canada to suspend trade talks with the United States due to lack of progress as expected. Also called back the negotiators. Canadian Prime Minister Mark Carney issued a statement on Friday giving this information. He has also threatened to respond to the proposed 50 per cent import duty on Canadian goods on a dollar for dollar basis from midnight on August 21-22.
what was said in the statement
The statement said that in recent weeks, we had made significant progress towards achieving the best deal with the United States in the world. However, this progress has not been enough to meet our objectives for Canadians. Therefore, today (Friday) evening I have decided to suspend trade negotiations with the US and have instructed Canadian negotiators to return to Ottawa. He said the last-minute changes in the terms proposed by the US were unreasonable and economically impractical. This raised questions about the credibility of any possible agreement.
Carney said the United States has announced a 50 percent import duty on Canadian goods worth about 28 billion Canadian dollars from midnight Friday to Saturday. He said Canada will respond to these import tariffs on a dollar-for-dollar basis to protect its workers and businesses. The Canadian Prime Minister said the government will announce additional measures to assist the country’s workers and enterprises in the coming days. These measures will be in addition to the approximately $25 billion in assistance provided over the past 18 months.
