Canada Vows Dollar-For-Dollar Retaliation Amid US Trade War Escalation

US-Canada trade negotiations have broken down, triggering new 50% tariffs on $20 billion worth of goods. This move by Washington has prompted Prime Minister Mark Carney to vow 'dollar-for-dollar' retaliation.

The collapse of talks came just before a midnight deadline, with Carney suspending negotiations minutes beforehand. The fresh tariffs affect hundreds of items, including plywood, liquor, electrical equipment, and hockey gear.

As a result, the Canadian dollar has weakened while Bitcoin rose and gold gained, highlighting mixed market reactions to the escalating trade tensions.