🇺🇸🇨🇦 New commercial escalation in North America
Negotiations between the United States and Canada failed on Friday, paving the way for Washington to impose 50% tariffs on about $20 billion worth of Canadian products. These measures in particular affect certain goods that until now benefited from exemptions under the USMCA. (The Wall Street Journal)
Canadian Prime Minister Mark Carney condemned last-minute U.S. changes he deemed “unfair” and promised a “dollar-for-dollar” retaliation. (The Guardian)
The stakes, however, go beyond the $20 billion in question: the United States and Canada exchanged roughly $880 billion in goods and services last year. A new escalation could therefore disrupt North American supply chains, raise costs for some businesses, and further weaken the future of the USMCA.
👉 The breakdown of negotiations marks a serious setback for economic relations between two of the world’s most closely integrated trading partners.
Negotiations between the United States and Canada failed on Friday, paving the way for Washington to impose 50% tariffs on about $20 billion worth of Canadian products. These measures in particular affect certain goods that until now benefited from exemptions under the USMCA. (The Wall Street Journal)
Canadian Prime Minister Mark Carney condemned last-minute U.S. changes he deemed “unfair” and promised a “dollar-for-dollar” retaliation. (The Guardian)
The stakes, however, go beyond the $20 billion in question: the United States and Canada exchanged roughly $880 billion in goods and services last year. A new escalation could therefore disrupt North American supply chains, raise costs for some businesses, and further weaken the future of the USMCA.
👉 The breakdown of negotiations marks a serious setback for economic relations between two of the world’s most closely integrated trading partners.
