The federal government is suspending all trade talks with the U.S.
Prime Minister Mark Carney released a statement late Friday claiming the U.S. proposed last-minute changes before new tariffs were set to take effect that "were unfair, uneconomic, and called into question the reliability of any deal."
"Throughout, our goal has been to secure the best deal for Canadians, never a deal at any price or on any deadline," said Carney.
Instead, Canada will now match the 50 per cent tariffs on roughly $28 billion of Canadian goods that came into effect Saturday morning.
"In the coming days, the government will introduce additional measures to support Canadian workers and businesses, building on the nearly $25 billion in support provided over the past 18 months," added Carney.
He ended his statement by saying the country's economic growth is accelerating and on pace to be the second-fastest in the G7 over the next two years, despite trade disruptions from the U.S.
Meanwhile, US Trade Representative Jamieson Greer called out Canada's decision to stop talks, claiming it was a missed opportunity for the country.
