Canada Vows to Retaliate Against US Tariffs 'Miscalculation

Canada's Prime Minister Mark Carney has described the US decision to impose new tariffs as a 'miscalculation' and vowed to retaliate in kind.

Carney made his comments on Saturday morning, after trade talks broke down late on Friday due to disagreements over the terms of a potential deal.

Key Analysis and Detailed Timeline

You can receive Breaking News on a smartphone or tablet via the BBC News App.

You can also follow @BBCBreaking on X, external to get the latest alerts.

Canada's Prime Minister Mark Carney has stated a fresh wave of US tariffs on Canada is a "miscalculation" designed to "hurt and divide us", after trade talks broke down late on Friday.

Broader Impact and Sector Outlook

Carney stated he walked away from a deal because he was not prepared to "compromise Canada's sovereignty".

"They requested too much and they offered too little," Carney stated in a speech to Canadians on Saturday earlier today.

The prime minister added that Canada will match US tariffs "dollar-for-dollar" from 8 September, including levies on steel, dairy, appliances and electronics. Donald Trump has yet to comment.

Read More: Sydney Marathon Medals Spark Controversy Over Incorrect Stadium

Both countries were optimistic of a deal earlier in the week, but talks lost consciousness on Friday night after both sides accused the other of making last-minute changes.

Now that talks have broken down, Canada will be hit with new 50% US tariffs on a range of Canadian goods, in addition to existing US tariffs on Canadian steel, aluminium, automobiles and lumber.

The prime minister stated Canada was retaliating "reluctantly" to protect its interests. Details of the counter-measures will be released in the coming days, he stated.

Carney's speech on Saturday is his first address to Canadians after he confirmed late on Friday night that deal would not be reached, accusing the Americans of making "last-minute changes" that were "unfair" and "uneconomic".

US negotiators, meanwhile, accused Canada of making "new demands and walk backs" on terms which had been concurred earlier in the week.

This breaking news story is being updated and more details will be published shortly. Please refresh the page for the fullest version.

You can receive Breaking News on a smartphone or tablet via the BBC News App. You can also follow @BBCBreaking on X, external to get the latest alerts.