U.S. and Canada Impose New Tariffs in Escalating Trade Dispute

The United States and Canada are locked in an escalating trade dispute, with both nations imposing steep new tariffs on each other's goods, bringing the world's largest bilateral trading relationship closer to a broader trade war. The confrontation intensified after trade talks collapsed late last week, leading the Trump administration to allow 50 percent tariffs on billions of Canadian goods to take effect. Canada responded with retaliatory tariffs, with Prime Minister Mark Carney declaring that Canada would match the U.S. levies dollar for dollar.