After long insisting that Canada could avoid Trump tariffs through talks, Mark Carney now says that is unlikely for any nation.

The U.S. will impose a 35% tariff on Canadian goods in two weeks, citing trade imbalances and fentanyl concerns—prompting economic uncertainty on both sides.

In March, the Liquor Control Board of Ontario announced it would no longer carry American booze in response to President Donald Trump’s tariffs on the country. From March through the end of April, sales of U.S. booze in Canada plummeted more than 66 percent, an analysis by trade group Spirits Canada, seen by Bloomberg, found.

U.S. President Donald Trump indicated that a trade deal with Canada might not be achievable, hinting at the possibility of imposing a unilateral tariff. This statement comes as Trump expressed dissatisfaction with the progress of bilateral negotiations,

The pace of central bank rate cuts is slowing as early movers near the end of their easing cycles while sticky inflation keeps others cautious.

The tariffs may energize Trump's base, but they carry steep economic risks for the U.S. as well. Ontario accounts for 39 percent of Canada's GDP and is the United States' third-largest trading ...

The letter reiterated Trump’s complaints about dairy quotas, fentanyl and the U.S. trade deficit, which is mostly fueled by American refineries’ thirst for Canadian oil. His social media post caused the Canadian dollar to immediately tumble, indicating the market wasn’t expecting this escalation.

This story was originally published by the Canada’s National Observer and is reproduced here as part of the Climate Desk collaboration.. US tariffs on Canada are on hold for at least 30 days ...

Trump threatened Canada, one of the country's largest trading partners, with a 35% tariff starting Aug. 1. Hotspots ranked Start the day smarter ☀️ Funniest cap messages Get the USA TODAY app