U.S. Trade Representative Blames Canada for Collapse of Tariff Negotiations
U.S. Trade Representative Jamieson Greer said Canada changed its demands at the last minute, leading to the failure of talks aimed at averting 50% tariffs on $20 billion of goods.
U.S. Trade Representative Jamieson Greer said on Monday that Canada’s last-minute shift in demands caused the breakdown of negotiations intended to prevent new 50% tariffs on roughly $20 billion of goods imported from Canada. Greer told CNBC’s "Squawk Box" that the parties had reached a point on Tuesday night where they could announce a deal, but that “the Canadians just … wanted more” in the final hours.
Canadian Prime Minister Mark Carney responded by accusing the United States of proposing “last-minute changes” that were “unfair, uneconomic, and called into question the reliability of any deal.”
The stalled talks left Canadian negotiators without an agreement to stop the tariffs, which took effect at 12:01 a.m. ET on Saturday and cover items such as wine, hockey sticks and cement. Business groups in both countries warned the duties could raise costs for exposed industries.
Carney indicated Canada will respond with “dollar for dollar” tariffs against the United States.