Mark Carney says Canada has "plans for any situation that may arise" as U.S. tariff deadline looms

With a midnight deadline approaching for new U.S. tariffs on nearly $20 billion in Canadian products, Prime Minister Mark Carney told reporters in Newfoundland on Monday that his government is equipped to respond to any development should talks fail, without providing specifics. The 50 percent duties, signed last month by President Donald Trump, who claims they respond to Canadian treatment of U.S. alcohol, auto, and dairy commerce, could affect a wide range of exports. Economists quoted in the article warn the duties could cut several tenths of a point from Canada’s GDP growth, weaken hiring, and push prices up depending on whether Canada retaliates. Surveys of small businesses show most are concerned about losing their competitive edge in the U.S. and are accelerating efforts to diversify.