U.S.-Canada trade talks collapse, massive tariffs to take effect

Trade talks between the U.S. and Canada collapsed late Friday night, and both sides say steep new tariffs will now take effect. Axios reports the breakdown is unprecedented, with the U.S. set to use Section 338 of the Tariff Act of 1930 for the first time — adding fifty percent duties on Canadian alcohol, hockey equipment, cement, and dairy. Each side blames the other for last-minute changes: U.S. Trade Representative Jamieson Greer says Canada made new demands, while Prime Minister Mark Carney says the U.S. altered terms and that Canada will match the tariffs dollar for dollar. The two countries traded three hundred seventy-six billion dollars in goods in the first half of the year, and after more than a year of threats, this is Washington's most aggressive move yet to actually impose them.

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