Canada Pushes Back as US Trade Talks Collapse

Summary

Bloomberg's Derek Decloet discusses the collapse of last-minute US-Canada trade negotiations and the Canadian response. He says Canadians are frustrated but not surprised given the Trump administration's negotiating style. Section 232 tariffs on autos, steel, and aluminum remain the main unresolved issue, though communication between the two governments has improved.

• US-Canada trade talks broke down, triggering 50% US tariffs on about $20 billion of Canadian goods.
• Ottawa pledged dollar-for-dollar retaliation.
• Derek Decloet says the Canadian mood is frustration rather than great surprise.
• Section 232 tariffs on autos, steel, and aluminum are the central sticking point.
• The US is not expected to take those tariffs to zero.
• Lines of communication between Canadian and US officials have improved dramatically.