Aug 23, 2026

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'Partners of choice, but...': Carney explains why Canada-US trade deal collapsed

US President Donald Trump’s 50 per cent tariffs on scores of Canadian imports came into effect on Saturday after trade negotiations between Washington and Ottawa collapsed at the eleventh hour. The new levies are expected to affect around 5 per cent of Canada’s annual exports to the US, worth roughly USD 20 billion in goods.

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