U.S.-Canada Trade Deal Falls Apart; Big New Taxes on Canadian Goods Coming

Trade talks between the U.S. and Canada fell apart before an August 22 deadline. A tariff is a tax on imported goods, paid at the border. A 50% tariff on Canadian products would raise costs sharply, squeezing Canadian businesses and disrupting supply chains — the linked production networks both countries rely on. Washington blamed Canada's truck-tax demands; PM Carney rejected "harsh new terms."