Canada Suspends Trade Talks with US Amid Fears of Unfair Tariff Proposals

Canada has suspended trade negotiations with the US after last-minute changes to Washington's proposed terms were deemed 'unfair' and 'uneconomic'. The decision was made by Prime Minister Mark Carney, who stated that Canada had not achieved its objectives of securing tariff-free access for most Canadian businesses and reducing US tariffs on key industries.

Carney said that over the past 18 months, Canada's new government has focused on building domestic strength, diversifying partnerships abroad, and striking a fair deal with the US. However, the recent progress made in talks was not enough to meet these objectives.

The suspension of trade negotiations comes as the US is set to impose a 50% tariff on about C$28 billion of Canadian goods from midnight. In response, Canada will match tariffs 'dollar for dollar', according to Carney.

Carney also directed Canada's trade negotiators to return to Ottawa and continue their strategy of reducing dependence on the US by strengthening the domestic economy and expanding trade with other markets.