Trump slaps 50% tariff on Canada after trade talks collapse

US President Donald Trump announced a 50% tariff on Canadian cars, trucks, auto parts, and steel effective January 1, 2027, accusing Canada of "ripping off" the US for years. The move follows the collapse of trade negotiations between the two countries. Trump stated on Truth Social that Canada's high tariffs on farm products created a $60 billion deficit and declared the US "will no longer treat Canada like a state." The announcement came after Canadian Prime Minister Mark Carney suspended all trade talks and recalled negotiators, citing unfair last-minute changes in US terms. Carney said recent progress was insufficient to meet Canada's objectives of tariff-free access for most businesses and protection for small and medium-sized enterprises. He noted Canada had worked "in good faith" but that the US proposals' reliability was now in question.