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International Business Times
International Business Times
Business

US, Canada Tariff Row Escalates. The Political Fallout May Be Bigger Than Economic Impact.

US President Donald Trump with Canada's Prime Minister Mark Carney during a work lunch as part of the G7 summit, in Evian, eastern France, on June 16. (Credit: Evelyn Hockstein / POOL / AFP via Getty Images)

The US imposed 50% tariffs on $20 billion worth of Canadian products, forcing the latter to announce retaliatory steps, the Associated Press reported.

The moves came after last-ditch negotiations failed to resolve the latest strain in the tense bilateral relationship between long-time allies, according to the AP report.

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