Trump's trade deal with Canada collapses
Summary
The United States and Canada failed to reach a trade agreement. As a result, the U.S. will put a 50% tax on $20 billion of Canadian goods. Canada’s prime minister said Canada will respond by adding similar taxes on U.S. products.Key Facts
- The U.S. and Canada did not agree on a new trade deal.
- The U.S. will charge a 50% tariff on $20 billion of Canadian imports.
- A tariff is a tax on goods coming into a country.
- Canada’s prime minister promised to match the U.S. tariffs equally.
- These actions may affect trade between the two countries.
- The situation follows a breakdown in negotiations.
- It is not yet clear how long these tariffs will last.
- The news was reported by CBS News.
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