“The last-minute changes that the United States made to the proposed terms were unfair, economically unfeasible, and cast doubt on the reliability of a potential agreement,” Carney stated in a press release. “I have decided to suspend trade negotiations with the US and have instructed Canadian negotiators to return to Ottawa.”<\/p>\n
When the US imposes 50 per cent import tariffs on approximately 28 billion dollars worth of Canadian goods on Saturday, Canada will also respond by “matching the tariffs dollar for dollar.” Carney also promises additional measures to support Canadian workers and businesses.<\/p>\n
The breakdown of negotiations came after “significant progress” in the talks over the past few weeks, admits Carney. “Our goal has always been to achieve the best deal for Canadians, never a deal at any cost or by a deadline.”<\/p>\n
American president Donald Trump had set midnight on Saturday (local time) as the deadline. That deadline has now passed.<\/p>\n
In his statement, Carney emphasises that it was immediately clear that the global tariff war unleashed by Trump has permanently altered relations with the US: “We will not return to our old relationship.” The government has therefore been exploring other export markets for Canadian businesses for some time. “Our existing free trade agreements already give Canada preferential access to 1.5 billion consumers, and we are on track to double that market access by the end of this year.”<\/p>\n