Carney says Canada will match US tariffs 'dollar for dollar' after failed trade negotiations

Canadian Prime Minister Mark Carney has announced that Canada will impose retaliatory tariffs on US goods on a "dollar for dollar" basis. The decision follows the expiration of a three-day extension for trade negotiations, which concluded without a formal agreement between the two nations. The retaliatory measures were triggered after the United States implemented new tariffs on specific Canadian products this past Saturday.

Carney characterized the breakdown in negotiations as the result of "unfair" last-minute adjustments proposed by Washington. The move marks a significant escalation in trade tensions between the two countries, with the Canadian government stating that the reciprocal tariffs are necessary to protect domestic workers and businesses.