Carney threatens retaliation for new 50% US tariffs on Canadian goods
Kyiv • UNN
Canadian Prime Minister Mark Carney said the government will consider retaliatory measures if it fails to negotiate the cancellation of new 50% US tariffs. The new tariffs, which could affect 5% of exports, will take effect on August 19.
Canadian Prime Minister Mark Carney said the government will consider all possible retaliatory measures if Ottawa fails to reach an agreement with the United States on canceling new 50% tariffs on Canadian goods. He told reporters in Charlottetown, Bloomberg reports, writes UNN.
Details
If no agreement is reached, everything will be discussed, depending on the outcome of the negotiations
This week, the administration of U.S. President Donald Trump, citing a Great Depression-era law, threatened to impose 50% tariffs on a range of Canadian goods, including electrical equipment, packaging, hockey gear and beer. The new tariffs, which could affect about 5% of Canada's exports to the United States, are expected to take effect on August 19.
Carney said representatives of the two countries are currently holding talks covering all existing tariffs and trade restrictions. According to him, he and Donald Trump have agreed to speed up this process.
When asked whether Trump's new tariff threats are a real intention or just a way to increase pressure during negotiations, the prime minister replied: "Both."
We have seen a series of trade negotiations conducted by the United States, and there is usually a deadline. Usually, an excessive tariff is associated with that deadline
Negotiations are ongoing
The prime minister noted that this week's interaction between the Canadian side and the U.S. administration shows a serious approach to negotiations. Last year, the volume of trade in goods and services between Canada and the United States amounted to nearly $900 billion.
At the same time, Carney stressed that Ottawa will not agree to a deal at any cost.
I need to be convinced, we need to be convinced, the team needs to be convinced, the premiers need to be convinced that the deal is worth the paper it is written on