Back to today’s briefing

Story perspectives

Canada suspends U.S. trade talks as $28B tariffs hit

8/27/2026

27 5 Full Breakdown

Summary

Story summary

Prime Minister Mark Carney suspended Canada-U.S. trade talks over last-minute American demands.
The United States invoked Section 338 tariffs on $28 billion of Canadian goods, effective immediately.
Early estimates say the tariffs could eliminate about 90,000 Canadian jobs.
Carney said Canada will impose counter-tariffs on U.S. steel, dairy, appliances, equipment, electronics and pulp-paper by 8 September.

History

Historical Context

On March 5 2002 President George W. Bush imposed 8–30 percent safeguard tariffs on steel imports, exempting Canada and Mexico under NAFTA. The European Union and Japan filed WTO complaints; on November 11 2003 the WTO ruled the measures violated U.S. commitments and threatened over $2 billion in sanctions. The United States lifted the tariffs on December 4 2003, ending a dispute that reshaped U.S.–EU trade relations.

1 of 2

Story summary

Prime Minister Mark Carney suspended Canada-U.S. trade talks over last-minute American demands.
The United States invoked Section 338 tariffs on $28 billion of Canadian goods, effective immediately.
Early estimates say the tariffs could eliminate about 90,000 Canadian jobs.
Carney said Canada will impose counter-tariffs on U.S. steel, dairy, appliances, equipment, electronics and pulp-paper by 8 September.

1 / 2