Negotiations on the US-Canada trade agreement collapse: the United States imposes 50% additional tariffs on some Canadian goods
This Friday, Jamieson Greer, the U.S. Trade Representative, said Canada rejected finalizing a trade agreement with the United States before the deadline and continued to take retaliatory measures against the U.S.
According to Greer, the U.S. offered Canada “more favorable market access terms.” If an agreement had been reached, it could have “significantly lowered tariffs,” but Canada refused to accept, causing the negotiations to fall apart.
In response, the U.S. Customs and Border Protection Agency subsequently issued guidance, announcing that under Section 338, additional tariffs would be imposed on certain Canadian imports.
A senior official in the Trump administration confirmed that the relevant departments have decided to implement 50% tariffs on some Canadian goods, which will officially take effect at 00:01 a.m. Eastern Time on August 22.
Canadian Prime Minister Mark Carney immediately responded, saying that because the progress in negotiations was insufficient to achieve the goals set for Canadians, Canada has decided to suspend trade talks with the United States.
Carney also said that while the U.S. imposes a 50% tariff on Canadian goods, Canada will impose retaliatory tariffs of equivalent value to protect Canadian workers and businesses.
The tariff measures are based on Section 338 of the U.S. 1930 Smoot-Hawley Tariff Act and impose 50% tariffs on hundreds of categories of imported goods from Canada, including Canadian wine, hockey sticks, cement, and more.
The tariff measures were originally scheduled to take effect on August 19, but after Trump announced on August 18 that they would be postponed by three days, they will officially take effect on August 22 at 00:01 a.m.
Only in the past three weeks, Canada’s Minister of Trade and its Chief Trade Negotiator have held four rounds of talks with U.S. representatives and discussed core disagreements between both sides, but ultimately failed to reach a consensus agreement.
#美加贸易协议谈判破裂
This Friday, Jamieson Greer, the U.S. Trade Representative, said Canada rejected finalizing a trade agreement with the United States before the deadline and continued to take retaliatory measures against the U.S.
According to Greer, the U.S. offered Canada “more favorable market access terms.” If an agreement had been reached, it could have “significantly lowered tariffs,” but Canada refused to accept, causing the negotiations to fall apart.
In response, the U.S. Customs and Border Protection Agency subsequently issued guidance, announcing that under Section 338, additional tariffs would be imposed on certain Canadian imports.
A senior official in the Trump administration confirmed that the relevant departments have decided to implement 50% tariffs on some Canadian goods, which will officially take effect at 00:01 a.m. Eastern Time on August 22.
Canadian Prime Minister Mark Carney immediately responded, saying that because the progress in negotiations was insufficient to achieve the goals set for Canadians, Canada has decided to suspend trade talks with the United States.
Carney also said that while the U.S. imposes a 50% tariff on Canadian goods, Canada will impose retaliatory tariffs of equivalent value to protect Canadian workers and businesses.
The tariff measures are based on Section 338 of the U.S. 1930 Smoot-Hawley Tariff Act and impose 50% tariffs on hundreds of categories of imported goods from Canada, including Canadian wine, hockey sticks, cement, and more.
The tariff measures were originally scheduled to take effect on August 19, but after Trump announced on August 18 that they would be postponed by three days, they will officially take effect on August 22 at 00:01 a.m.
Only in the past three weeks, Canada’s Minister of Trade and its Chief Trade Negotiator have held four rounds of talks with U.S. representatives and discussed core disagreements between both sides, but ultimately failed to reach a consensus agreement.
#美加贸易协议谈判破裂