‘Cannot accept what was offered’: Canadian PM Mark Carney on why US trade deal didn't work
Carney revealed that Canada was willing to drop remaining retaliatory tariffs on steel, aluminum and autos in return for US substantially lowering its own.
Following the collapse of trade negotiations with the United States, Canadian Prime Minister Mark Carney said the country could not accept US terms for a trade deal.
Mark Carney said that the details of the new tariff measures would be released “in the coming days”, (The Canadian Press via AP)
The United States imposed 50 per cent tariffs on $20 billion worth of Canadian products early Saturday, after the countries failed to reach a trade deal despite President Donald Trump extending the August 18 midnight deadline by three days, allowing talks to continue. Canada has said it will impose retaliatory tariffs beginning September 8.
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After the failure of last-ditch negotiations to resolve strains, Carney said, “We cannot accept what they've offered, and we will not give what they've asked.” The Canadian PM announced that Ottawa would slap retaliatory tariffs on steel and dairy products in response to US duties.
‘They asked too much, added last-minute terms’: Carney on why trade talks collapsed
Deep Dive
What were the main reasons for the failure of the US-Canada trade negotiations?
The trade negotiations failed primarily because Canada felt the US demands were excessive, adding last-minute terms that were deemed unacceptable. Canadian PM Mark Carney noted that the US asked too much while offering too little, hindering an agreement.
How is Canada responding to the US imposing 50% tariffs on its products?
Canada plans to impose retaliatory tariffs, matching the US measures 'dollar for dollar', specifically targeting steel, dairy, appliances, agricultural equipment, and other key sectors starting September 8.
Why did Canada refuse to accept the US terms for the trade deal?
Canada refused the US terms because they included last-minute changes that would limit Canada's ability to negotiate other trade agreements and protect its cultural and linguistic sovereignty, which were seen as unacceptable conditions.
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Carney revealed that Canada had been willing to drop remaining retaliatory tariffs on steel, aluminum and autos in return for Washington substantially lowering its own, and was prepared to encourage provinces to restore US alcohol sales, the Associated Press reported.
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