00:00Trade talks between the U.S. and Canada have collapsed, setting the stage for another major escalation between the two
00:06longtime allies.
00:07President Trump's new 50 percent tariffs on roughly $20 billion worth of Canadian goods are already in effect.
00:15And Prime Minister Mark Carney says Canada will respond with dollar-for-dollar tariffs beginning September 8th.
00:22Ottawa is targeting American steel, dairy, electronics, appliances, agricultural equipment and other products.
00:29Carney blamed last-minute U.S. demands for derailing negotiations, while Washington says Canada walked away from a favorable deal.
00:37The breakdown now puts the future of the North American trade agreement under renewed pressure.
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