Canadian Prime Minister Mark Carney said that if Canada is unable to reach an agreement with the US to avoid the 50% tariff that comes into effect next month, Canada is weighing all possible countermeasures. “If no agreement can be reached, all options are being considered, depending on the outcome of the negotiations,” he told reporters in Charlottetown, Prince Edward Island on Thursday. This week, US President Donald Trump's administration invokes a law dating back to the Great Depression, threatening to impose 50% tariffs on a range of Canadian products, including electrical equipment, packaging materials, ice hockey equipment, and beer. These tariffs will affect about 5% of Canada's merchandise exports to the US and will take effect as early as August 19. Carney said that representatives of the two governments are currently discussing all current tariffs and trade measures.

Canadian Prime Minister Mark Carney said that if Canada is unable to reach an agreement with the US to avoid the 50% tariff that comes into effect next month, Canada is weighing all possible countermeasures. “If no agreement can be reached, all options are being considered, depending on the outcome of the negotiations,” he told reporters in Charlottetown, Prince Edward Island on Thursday. This week, US President Donald Trump's administration invokes a law dating back to the Great Depression, threatening to impose 50% tariffs on a range of Canadian products, including electrical equipment, packaging materials, ice hockey equipment, and beer. These tariffs will affect about 5% of Canada's merchandise exports to the US and will take effect as early as August 19. Carney said that representatives of the two governments are currently discussing all current tariffs and trade measures.