The two countries failed to reach a trade deal late on Friday, with each side blaming the other as Canada readied tariffs on some US goods in retaliation for levies ordered by the US president on other Canadian products.

WASHINGTON, Aug 24 - U.S. tariffs on all cars and trucks, automotive parts and steel will be increased to 50% starting January 1, 2027, President Donald Trump said in a social post on Monday after trade talks with Canada collapsed. Read more at straitstimes.com. Read more at straitstimes.com.

President Trump is threatening to sharply increase tariffs on Canadian goods, escalating a trade dispute between the United States and Canada after negotiations between the two countries collapsed.