Canada's Carney Backs Down On Tariffs As Trump Welcomes Another Win
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Another major economy and country backs down, and Trump wins again - as on Friday Canadian Prime Minister Mark Carney announced that Canada will
drop its retaliatory tariffs in step with the United States.
Carney in a Friday press conference said the US side clarified it would not apply tariffs to Canadian products that adhere to the terms of the US-Mexico-Canada free trade agreement. Even Politico has starkly
described it as Carney backs down in a major concession.
Carney stated: “I am announcing today that the Canadian government will now match the United States by removing all of Canada’s tariffs on US goods specifically covered under USMCA", previewing that the change will take effect on September 1.
The White House hailed the move: "
We welcome this move by Canada, which is long overdue. We look forward to continuing our discussions with Canada on the Administration's trade and national security concerns," a Trump admin official said. And more via breaking Canadian media
reports:
- U.S. President Donald Trump commended the tariff removal, calling it "nice" and saying he wanted to "be good to Canada."
- Trump raised tariffs on some Canadian goods to 35 per cent on Aug. 1.
- The Trump administration said Canada's rate was being hiked in response to fentanyl trafficking and Canada's earlier decision to hit back with counter-tariffs.
Carney had repeatedly claimed he had a mandate from the public to
'stand up to' the Trump administration, but alas he's the latest in a line of global leaders to instead
sit down amid the immense tariff and trade pressure.