U.S. and Canada Enter Formal Trade War as Tariffs Take Effect

The relationship between the United States and Canada has deteriorated into a formal trade war, with the U.S. imposing 50% tariffs on approximately $20 billion worth of Canadian imports. Canadian Prime Minister Mark Carney has suspended bilateral talks and stated that Ottawa would match the duties "dollar for dollar," declaring that the "old relationship" with the U.S. is over. This development is expected to have significant economic ramifications, including potential job losses in Canadian provinces.