Trumps 50% tariffs on Canada take effect after last-minute talks fail

A hefty new tariff on a wide range of products from Canada took effect early Saturday after last-minute negotiation to avert the duties collapsed.“Tonight, Canada declined to finalize the trade deal under the terms agreed earlier this week, despite the US offer to Canada to receive the best treatment of any major exporter to our market,” US Trade Representative Jamieson Greer told reporters.“New demands and walk backs of other commitments by Canada have upended the careful balance reached in the past days,” he added.The 50% tariff will apply to some $20 billion worth of Canadian products, including wine, hockey sticks, and cement. President Trump had originally set a 12:01 a.m.

Wednesday deadline for the two sides to reach terms to stave off the tariff but pushed it back to Saturday amid positive, eleventh-hour negotiations.The new tax aims to remedy Canada’s “substantial retaliation” and “discrimination” against American products and businesses, according to Trump administration officials. There will be exemptions for energy and essential goods like fish and critical minerals. In the hours leading up to the implementation deadline, Trump appeared optimistic that a deal could be finalized with Canada, touting his “good relationship” with Prime Minister Mark Carney.“The deal with Canada is moving along and we should be able to have a deal,” Trump told reporters at Joint Base Andrews, before jetting off to a rally in South Carolina.

After teasing that his administration is “starting on a new deal with Mexico” at the same time it negotiates with Canada, Trump declared: “I only make good deals.Much better deal for the United States, both with Canada and Mexico.”The tariff was unveiled last month, shortly after Trump and Carney were spotted chatting during the World Cup final in New Jersey. The two leaders spoke by phone Monday afternoon and discussed a potential trade deal. ″We are negotiating,” Carney said of talks with Tr...