U.S.-Canada Trade Talks Collapse; 50% Tariffs Loom

Trade talks collapsed before an August 22 deadline, clearing the path for 50% tariffs on Canadian goods. U.S. officials blamed Canada's last-minute push for lower truck tariffs; PM Carney rejected "harsh new terms." A 50% tariff — a tax on imports paid at the border — would squeeze Canadian exporters' margins and disrupt cross-border supply chains.