Trump threatens 50% Canada tariffs as Carney flags tougher talks
Why it matters: New duties could hit more Canadian goods on Aug. 19, adding pressure on prices and cross-border manufacturers.
Trade tensions between the United States and Canada sharpened after President Donald Trump threatened to widen tariffs on Canadian goods and Prime Minister Mark Carney described the negotiations as increasingly combative. Trump already has tariffs in place on Canadian steel, aluminum and automobiles, and he has threatened 50% duties on more products starting Aug. 19. Carney said Canadian negotiators were in Washington this week and that further talks with Trump were expected after the two spoke last week. Canada says its countermeasures answer existing US tariffs. Carney also argued current aluminum duties have driven US aluminum prices up 58%, raising costs for American companies as well as Canadian exporters.