Canada to impose retaliatory tariffs on US beginning Sept 8

Canadian Prime Minister Mark Carney says his country will match US tariffs "dollar for dollar" after breaking off ongoing trade talks, beginning September 8.

This follows failed negotiations between the two nations that wrapped up Friday,

after attempts to iron out a trade deal ended with the US imposing a 50% tariffs

that could see 20 billion US dollars worth of Canadian goods affected.

Canadian Prime Minister Mark Carney on Saturday delivered a nationally televised

address outlining Canada's position after trade talks with the United States broke down, announcing Ottawa's "dollar-for-dollar" retaliatory tariffs on 20 billion US dollars' worth of American goods would take effect on September 8.

Carney says the counter-tariffs will cover a wide range of sectors. This comes after the two nations failed to reach a deal Friday, where US imposed similar tariffs on Canadian goods that took effect midnight Saturday.

Immediately following the fallout, Carney had said that both sides were close to a deal, but the US introduced last-minute changes that made the agreement an unfair one.

The prime minister also brought up the US' continuous disregard for existing

North American trade agreements, which can affect relations between

the two nations and neighbouring Mexico.

US President Donald Trump on Friday responded to Carney walking away from negotiations, maintaining he's "close" with the prime minster and that he will only make "the best deal" for America. Trump's import taxes will hit about 5% of what Canada ships to the United States every year.

The neighbours have wrangled for decades over trade, poking each other over

sore spots such as Canadian softwood lumber imports and US access to Canada's protected dairy market.