US-Canada Trade Talks Collapse Amid Tariff Imposition

US-Canada trade negotiations have collapsed after Washington imposed 50% tariffs on some Canadian products. The tariffs affect roughly $20 billion of Canadian exports, including wine, furniture, dairy products, cement, clothing, fishing rods, and hockey equipment.

The breakdown came after days of negotiations in which both governments had suggested that an agreement was within reach. However, the two sides failed to bridge their differences, with US Trade Representative Jamieson Greer saying Canada refused to finalize a deal on terms negotiated earlier in the week.

Canadian Prime Minister Mark Carney offered a different explanation, stating that last-minute changes proposed by Washington were 'unfair, uneconomic, and called into question the reliability of any deal.'

The collapse has exposed the widening political divide between the two countries, with President Donald Trump criticizing Canada's trade policies. The Canadian dollar weakened following the news, down 0.44% against the US dollar.