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The Economic Times

Global Business / The Economic Times

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Trump admin predicts US trade war 'devastating' for Canada

In a critical exchange, the United States cautioned Canada against pursuing a trade war, labeling it as a reckless move that could lead to severe repercussions. Following a collapse in talks, American tariffs on Canadian goods took effect. In response, Canada implemented its own tariffs focused on American steel and dairy sectors. Prime Minister Mark Carney emphasized that Canada was under attack and needed to retaliate accordingly.

23 Aug 2026 7:39 pm