Toronto, August 22, 2026 (Yes Punjab News)
Trade negotiations between the United States and Canada have broken down after Washington proposed new tariff measures, with Canadian Prime Minister Mark Carney vowing to retaliate against the latest US tariffs.
The White House said it would impose a 50 per cent tariff on certain imports from Canada. Carney said Canada had suspended trade talks with the US and recalled its negotiators to Ottawa after last-minute changes proposed by the American side were deemed “unfair, uneconomic” and raised questions about the reliability of any potential agreement.
“At midnight tonight, the US intends to impose a 50 per cent tariff on roughly $28 billion of Canadian goods. Canada will match those tariffs dollar for dollar to protect our workers and businesses,” Carney said in a statement.
The Canadian government will also introduce additional measures in the coming days to support workers and businesses, building on nearly $25 billion in assistance provided over the past 18 months, he said.
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Carney said the measures were part of Canada’s broader economic strategy of strengthening domestic capacity and diversifying international partnerships.
He said Canada’s economic growth was accelerating and that the country was on track to record the second-fastest growth among G7 economies over the next two years.
According to Carney, Canada’s economy is creating jobs at “four times the rate of the United States”, while exports to non-US markets are expected to double over the next decade. He also said foreign direct investment in Canada was at its highest level in two decades and running at twice the rate of its nearest G7 competitor.
“Canada now ranks as the most attractive country in the world for infrastructure investment,” Carney said.
“Canada has what the world wants. And we will not allow any nation to determine our future. We will set our own course to keep building Canada strong for all,” he added.
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