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Canada's prime minister said he was "reluctantly" announcing retaliatory tariffs as he accused the US of starting a trade war.
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;Resize=(620)) Premier Danielle Smith hopes federal negotiators will return to the table after the collapse of trade talks in Washington triggered a 50 per cent tariff on Canadian exports. But she also said that the last minute demands from American negotiators were "untenable" and "too painful" for Canada to accept.
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A tit-for-tat trade fight between the two allies could create new headaches for consumers and businesses already stung by high prices.
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New 50% Trump administration tariffs on some Canadian exports went into place after the U.S. and Canada failed to reach a deal on Friday.
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Prime Minister Mark Carney addressed Canadians on Saturday morning, hours after he ordered negotiators to suspend U.S. trade talks despite President Trump's punishing tariffs.
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Investors see different risks threatening markets, but broadly agree that traders should diversify beyond recent winners.
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A new wave of tariffs will hit Canada early Saturday morning, with steep 50% duties in effect at the stroke of midnight.
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