The tariffs imposed by US President Donald Trump are increasing costs for American families and overturning trade relations built over decades. This was stated by Canadian Prime Minister Mark Carney, quoted by the Associated Press, reports News.bg.
“The US tariffs have overturned a trade agreement that has existed for decades“, Carney said. According to him, the tariffs are making goods more expensive for American consumers, while at the same time putting Canadian companies at a disadvantage and creating uncertainty for business.
The Canadian prime minister stressed that an integrated North American auto industry would benefit both countries. However, he expressed doubt that maintaining this integration remains a priority for Washington.
According to Carney, the US approach to trade relations has changed and it is time for Canada to rethink its policy as well.
Negotiations for a trade agreement between the two countries collapsed in August after it seemed that Washington and Ottawa were close to reaching an agreement. Trump subsequently imposed 50% tariffs on about $20 billion worth of Canadian goods. The decision prompted retaliatory measures from Canada.
Carney reported that Canadian car exports to the US market had fallen by more than 10%, while US car exports to Canada had fallen by more than 20%.
“Tariffs weaken industries in both countries and limit choices for our families,“ the Canadian prime minister also said.