PM Carney: “Last-minute changes in the U.S. proposed terms were unfair, uneconomic, and called into question the reliability of any deal.”

From the written statement of Prime Minister Mark Carney, Friday August 21, 2026, 23:48 Hrs:

“To strike a fair deal that would provide the best access to the U.S. market and greater certainty to Canadian businesses and workers. Throughout, our goal has been to secure the best deal for Canadians, never a deal at any price or on any deadline.

In recent weeks, we made important progress toward improving Canada’s position as having the best deal in the world with the U.S.

However, that progress has not been enough to meet our objectives for Canadians. As a result, this evening, I have decided to suspend trade negotiations with the U.S. and have directed Canada’s negotiators to return to Ottawa. They have worked hard, in good faith, to defend the interests of Canadians throughout these negotiations up until the very last minute. However, last-minute changes in the U.S. proposed terms were unfair, uneconomic, and called into question the reliability of any deal.

At midnight tonight, the U.S. intends to impose a 50% tariff on roughly $28 billion of Canadian goods. Canada will match those tariffs dollar for dollar to protect our workers and businesses.”

The Guardian: Canada vows to match Trump’s tariffs ‘dollar for dollar’ after trade talks fail

BBC: Canada says it will match US tariffs ‘dollar for dollar’ as trade talks break down

Le Monde: US-Canada trade talks collapse, testing Ottawa’s strategy of firmness

France 24

NPR: U.S.-Canada trade talks collapse