Canadian prime minister says Ottawa couldn't accept Washington's terms

Canadian Prime Minister said Monday there was progress with US in recent weeks but "momentum reversed" and Canada could not accept the deal.

Speaking at the port of Quebec, Mark Carney said despite the two sides making progress in recent weeks, "that momentum reversed and we could not accept what the US had offered, nor could we give what they asked."

Each side blamed the other for the collapse of negotiations in Washington late Friday, leading the U.S. to impose 50% tariffs on $20 billion worth of Canadian goods and Canada setting Sept. 8 as the start of its retaliatory penalties.

President Donald Trump's import taxes will hit about 5% of what Canada ships to the United States every year, ranging from hockey sticks to tongue depressors.

Carney said Ottawa would respond with targeted tariff protection for industries exposed to the new U.S. duties, including some steel products. He also mentioned the dairy, appliance, agricultural equipment, pulp and paper and electronics sectors.