Canada hits back with tariffs after U.S. trade talks collapse

President Donald Trump's 50% tariffs on $20 billion in Canadian imports took effect Saturday after negotiations collapsed. Canada will impose matching retaliatory tariffs starting Sept. 8. Prime Minister Mark Carney said U.S. negotiators "asked too much and offered too little," calling the terms "uneconomic" and "unfair." The tariffs cover about 5% of Canadian imports, including wine, dairy, hockey sticks, overcoats, and Christmas ornaments. U.S. Trade Representative Jamieson Greer said Canada rejected the "best treatment" of any major trading partner. The Smoot-Hawley Tariff Act used here imposes no time limit, with Manitoba Premier Wab Kinew predicting a two-year trade fight.