U.S.-Canada trade talks collapse, massive tariffs to take effect

U.S.-Canada trade talks collapsed late Friday, with both sides confirming steep new tariffs will take effect. President Trump had threatened to invoke Section 338 of the Tariff Act of 1930, imposing 50% duties on Canadian goods like alcohol and dairy. U.S. Trade Representative Jamieson Greer cited last-minute Canadian demands, while Prime Minister Mark Carney accused the U.S. of altering terms and suspended negotiations.