The United States and Canada failed to reach a trade deal on August 21st, just minutes before the midnight deadline. This collapse triggered immediate 50% US tariffs on roughly $20 billion worth of Canadian goods, primarily automobiles and heavy trucks. Canadian Prime Minister Mark Carney suspended the talks and pledged dollar-for-dollar retaliatory tariffs. Ottawa is expected to impose its own duties starting September 8th, targeting US electronics and appliances. The disagreements centered on auto tariffs, media content rules and Canada’s autonomy in pursuing trade agreements with other nations.
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