No Deal: 50% Canadian Tariffs Implemented After ‘Unfair’ Negotiations

BreakingBusinessNo Deal: 50% Canadian Tariffs Implemented After ‘Unfair’ NegotiationsByMary Whitfill Roeloffs,Forbes Staff. Mary Roeloffs is a Forbes breaking news reporter covering pop culture.Follow AuthorAug 22, 2026, 10:27am EDTToplineTariffs on an estimated $28 billion of Canadian goods went into effect at midnight Saturday, hours after Canadian Prime Minister Mark Carney said he would suspend trade negotiations with the U.S. following "unfair" and "uneconomic" changes to terms that were proposed at the "last minute."Trucks prepare to cross the US-Canada border on March 8, 2025.AFP via Getty ImagesKey FactsBeer, cars, dairy and a long list of other Canadian imports are now subject to a 50% tariff in addition to existing tariffs on Canadian steel, aluminum and lumber.The two countries have been negotiating the tariffs, first announced in July, for more than 30 days until Carney on Friday night said he would be suspending negotiations.He said the tariffs and how the negotiations unfolded underscore his belief "America has changed, and that we will not return to our old relationships.”U.S. Trade Representative Jamieson Greer said the suspension of negotiations was a "missed opportunity for Canada to partner with the United States.” The tariffs apply to about 5% of the $380 billion in Canadian goods that are imported to the U.S. each year and while economists have said the tariffs themselves likely won't overly impact American consumers, they've hurt the "extremely important" relationship between the two countries. if (!window.cnxel) { window.cnxel = {}; window.cnxel.cmd = []; var iframe = document.createElement('iframe'); iframe.style.display = 'none'; iframe.onload = function() { var iframeDoc = iframe.contentWindow.document; var script = iframeDoc.createElement('script'); script.src = '//cd.elements.video/player.js?cid=62cec241-7d09-4462-afc2-f72f8d8ef40a'; script.setAttribute('defer', '1'); script.setA...