Carney rejects U.S. trade deal as talks collapse; tariffs threaten 87,000 jobs

Prime Minister Mark Carney said Canada rejected a U.S. trade offer that would not benefit Canadians, following the collapse of negotiations. He stated the momentum reversed and the terms were unacceptable. U.S. President Donald Trump responded by threatening to raise tariffs on all cars, trucks, parts, and steel to 50 percent on New Year's Day. Conservative Leader Pierre Poilievre called for Parliament to reconvene, and an analysis estimated 87,000 Canadian jobs could be at risk. Provincial leaders, including Doug Ford and David Eby, vowed retaliation, with threats to cut energy exports. The Canadian dollar fell, and the U.S. imposed 50 percent tariffs on roughly $28 billion of Canadian goods.