By punching back, Canadian Prime Minister Mark Carney is taking an economic and political gamble, balancing short-term pain with longer-term strategy.
Canadian Prime Minister Mark Carney said Ottawa will apply countertariffs on $20 billion of U.S. products on Sept. 8, escalating the feud rocking one of the world’s biggest trading relationships. Carney said he was left with little choice after trade talks with President Donald Trump’s administration broke down on Friday night, and the U.S. put import taxes of 50% on items such as plywood, liquor, electrical equipment and hockey gear from Canada.
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