Canada Declares Economic War with Trump Over Tariffs

Mark Carney, former governor of the Bank of England and current Prime Minister of Canada, has described the ongoing trade tensions between Canada and the United States as an economic war. Speaking on Parliament Hill, Carney stated that it is 'evident' that the US has launched a new attack on Canada, which he referred to as a 'war.'

Carney was accompanied by Trade Minister Dominic LeBlanc and chief negotiator Janice Charette when outlining Ottawa's version of how negotiations collapsed. The Canadian team had been working intensively with the US to negotiate a new comprehensive trade deal, but ultimately walked away from the table once Washington brought forward terms that Canada would not accept.

The trade tensions have escalated after Trump imposed a 50% tariff on $20 billion worth of Canadian goods, and Ottawa has announced plans to retaliate dollar for dollar. The targets will include US steel, dairy products, appliances, agricultural machinery, pulp and paper, and electronics.