'The Big Money Show' discusses the collapse of U.S.-Canada trade talks. The panel analyzes President Donald Trump's strategy to impose a 50% tariff on Canadian goods.
The collapse of US-Canada trade talks and the tariffs that followed will likely have a limited direct effect on Canadian growth, according to Bank of America, but the bank is more concerned about the hit to business confidence and the damage done to prospects for renewing USMCA. Trade talks collapsed on August 21, prompting the US to impose 50% tariffs on roughly US$20 billion of Canadian goods and Canada to suspend negotiations and announce dollar-for-dollar retaliation effective September 8.
A Canadian politician has threatened to cut off electricity and mineral supplies to the US after President Trump said tariffs would rise to 50% on some goods.
President Donald Trump threatened 50% tariffs on Canadian cars, trucks, auto parts and steel starting January 2027, citing a $60 billion trade deficit with Canada.
U.S. Trade Rep Greer blames Canada for failed tariff talks: 'They wanted more'
Plus: More companies look to sell tariff-refund rights; Panama Canal limits transit slots as powerful El Niño looms.
U.S. stock-index futures dipped on Sunday, as it appeared the U.S. was on the verge of an all-out trade war with Canada, one of its biggest trade partners.
The list of dairy product targets includes milk, cream and whey protein, but Trump also puts tariffs on cane molasses and blended syrups (but not Canada's beloved maple syrup). Ice hockey and field hockey equipment are on another list, while other athletic equipment appear in another—including golf equipment, ice skates and fishing rods.
Joining Bloomberg This Weekend, Former Canadian Finance Minister Chrystia Freeland says Canada was right to walk away from a trade deal she argues would have harmed both countries, urging Ottawa not to back down and saying past retaliation against US tariffs proved effective. Freeland warns hosts David Gura and Christina Ruffini that Trump's approach risks turning allies into “vassals” as Canada prepares dollar-for-dollar counter-tariffs after the US imposed new 50% duties.
President Donald Trump accused Canada of wanting the benefits of statehood on Truth Social after Canadian PM Mark Carney suspended U.S.-Canada trade negotiations over tariffs.
In an interview, Jamieson Greer, Trump's trade representative, laid out details of the trade offer that the United States made to Canada before talks crumbled.