US slaps 50% tariffs on Canada after trade talks collapse
- On August 22, the US imposed 50% tariffs on about $20 billion of Canadian goods after trade talks collapsed.
- Canada rejected the proposed deal, saying last-minute US terms were unfair and economically unacceptable.
- Economist Trevor Tombe estimates the tariffs could cost Canada around 90,000 jobs if they remain in place.
- Canada plans counter-tariffs on $20 billion of US goods from September 8, while growth may slow further.
Source: economictimes.indiatimes.com
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