U.S. Trade Rep Greer blames Canada for failed tariff talks: 'They wanted more'
CNBC • • general
Key Points:
- U.S. Trade Representative Jamieson Greer blamed Canada for the collapse of trade negotiations, stating that Ottawa changed its demands at the last minute after initial agreement was reached.
- Greer said talks had progressed to a point where a deal seemed imminent, but Canadian negotiators wanted more in the final hours, causing the talks to break down.
- Canadian Prime Minister Mark Carney countered by accusing the U.S. of making unfair last-minute changes that undermined the reliability of the deal.
- Following the failed negotiations, the U.S. imposed 50% tariffs on about $20 billion worth of Canadian goods, including wine, hockey sticks, and cement, effective from Saturday.
- Canada has announced it will retaliate with equivalent tariffs against U.S. goods, escalating trade tensions between the two countries.
