US-Canada tariff deal collapses, 50% tariffs hit some Canadian goods

A tractor trailer crosses the Peace Bridge at the Canada-United States border in Fort Erie, Ontario, Canada, August 20, 2026. /VCG A tractor trailer crosses the Peace Bridge at the Canada-United States border in Fort Erie, Ontario, Canada, August 20, 2026. /VCG The United States and Canada failed to reach ‌a trade ‌deal late on Friday, ‌both sides said, and the US will impose 50% tariffs on some imports from Canada.A senior Trump ⁠administration ‌official said Section 338 tariffs on about $20 billion worth of Canadian goods would ‌go into effect just after midnight ​on Saturday.Canadian Prime Minister Mark Carney said he had suspended trade negotiations and Canada would retaliate dollar for ⁠dollar on the new tariffs.The ⁠decision by ⁠the US administration followed ​three straight days ​of talks in Washington between Canada's Minister for Trade ‌with the US, ⁠Dominic LeBlanc, and US Trade Representative Jamieson Greer. Source(s): Reuters