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00:02President Donald Trump on Monday threatened 50% tariffs on imported Canadian cars, trucks,
00:08auto parts and steel starting January 1st, according to NBC News.
00:13The escalation followed Prime Minister Mark Carney's vow to retaliate after 50% U.S.
00:18tariffs took effect Saturday following the breakdown of trade talks.
00:21Carney said Canada would match the tariffs dollar for dollar and rejected U.S. negotiating
00:26terms he called unfair.
00:27U.S. Trade Representative Jamison Greer downplayed the tariffs impact, saying they affect little
00:33trade and should not be considered a trade war.
00:36Carney said Canada viewed the U.S. tariffs as an attack and waited to retaliate until the
00:42new duties were actually implemented.
00:44Ontario Premier Doug Ford said Trump had declared an economic war against Canada, one of the
00:49United States' closest allies.
00:51The new auto tariffs could disrupt the deeply integrated U.S.-Canada-Mexico supply chain
00:57and add uncertainty around the USMCA Trade Agreement.
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