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Tariff Showdown Pushes Trump and Carney to Brink

US Canada trade talks collapse after Washington imposes 50 per cent tariffs, with Prime Minister Mark Carney promising dollar-for-dollar retaliation to protect Canadian businesses, reports Asian Lite News Desk Trade negotiations between the United States and Canada have collapsed, with Washington imposing fresh 50 per cent tariffs on nearly $28 billion worth of Canadian imports and Ottawa vowing to retaliate dollar-for-dollar. The latest escalation came late Friday night after last-minute talks failed to resolve differences between the two countries. At 12.01 a.m. ET, the United States imposed the new tariffs, prompting Canadian Prime Minister Mark Carney to immediately suspend negotiations

22 Aug 2026 12:18 pm