Carney Suspends Canada-US Trade Talks, Tariffs Take Effect
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- Mark Carney suspended Canada-US trade negotiations after talks with the Trump administration reached an impasse over new US levies on Canadian goods.
- The collapse clears the way for Trump-era tariffs on Canada and Canada's retaliatory tariffs on the US to come into effect, with India Today pegging the US levy at 50%.
Why it matters: The breakdown hands both sides an immediate tariff bill rather than a negotiated settlement — Canadian consumers and exporters absorb the US levy, while US exporters face Canada's reciprocal response in the largest bilateral trade relationship in North America.
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