Carney Threatens Dollar-for-Dollar Retaliation Over US Tariffs
(MENAFN) Canadian Prime Minister Mark Carney accused the US on Saturday of deploying new tariffs to "hurt and divide" Canada, branding the move a "miscalculation" and pledging dollar-for-dollar retaliation.
"The new US tariffs are designed to hurt and divide us," Carney said in remarks published by his office. "They're a miscalculation because Canadians will always take care of each other."
Carney said Canada would answer the latest tariffs with its own counter-tariffs, set to take effect Sept. 8, targeting a range of products including steel, dairy, appliances, agricultural equipment, pulp, paper and electronics. He added that Canada would never surrender "exclusive access" to its critical minerals.
The prime minister said Ottawa had suspended trade negotiations with Washington after the US put forward demands Canada could not accept.
Washington offered a different account, accusing Canada of abandoning a nearly finalized agreement that would have further reduced tariffs on Canadian exports to the American market. "Under President Trump, Canada has had the lowest tariffs for its exports to the U.S. market. At the last minute, Canada walked away from a nearly completed deal that would have lowered these tariffs even further," US Trade Representative Jamieson Greer said in remarks published by his office.
"Despite the U.S. offer to Canada to receive the best treatment of any major exporter to our market, new demands and walk backs of other commitments by Canada have upended the careful balance reached in the past days," Greer said, without providing details on the proposed agreement.
Canada and the US are both parties to the United States-Mexico-Canada Agreement (USMCA), which governs the bulk of trade between the two countries and took effect in 2020.
"The new US tariffs are designed to hurt and divide us," Carney said in remarks published by his office. "They're a miscalculation because Canadians will always take care of each other."
Carney said Canada would answer the latest tariffs with its own counter-tariffs, set to take effect Sept. 8, targeting a range of products including steel, dairy, appliances, agricultural equipment, pulp, paper and electronics. He added that Canada would never surrender "exclusive access" to its critical minerals.
The prime minister said Ottawa had suspended trade negotiations with Washington after the US put forward demands Canada could not accept.
Washington offered a different account, accusing Canada of abandoning a nearly finalized agreement that would have further reduced tariffs on Canadian exports to the American market. "Under President Trump, Canada has had the lowest tariffs for its exports to the U.S. market. At the last minute, Canada walked away from a nearly completed deal that would have lowered these tariffs even further," US Trade Representative Jamieson Greer said in remarks published by his office.
"Despite the U.S. offer to Canada to receive the best treatment of any major exporter to our market, new demands and walk backs of other commitments by Canada have upended the careful balance reached in the past days," Greer said, without providing details on the proposed agreement.
Canada and the US are both parties to the United States-Mexico-Canada Agreement (USMCA), which governs the bulk of trade between the two countries and took effect in 2020.
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