U.S.-Canada Trade Talks Collapse, Tariffs Set
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- U.S.-Canada trade talks collapsed late Friday night, with both sides announcing steep new tariffs will go into effect
- Trump last month threatened to invoke Section 338, the legal mechanism now driving the tariff standoff with the second-largest U.S. trading partner
Why it matters: The breakdown marks an unprecedented rupture in trade relations with Canada, the second-largest U.S. trading partner. Trump's Section 338 threat, floated only last month, has now materialized into concrete tariffs from both sides — escalating from posturing to action.
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