"We got attacked."
Those are just some of the words Prime Minister Mark Carney is using to justify suspending trade talks with the U.S.
He confirmed during a speech on Saturday that the two sides were close to a deal, but last-minute requirements imposed by the U.S. made an agreement impossible.
Carney didn't go into much detail on what was demanded, though he did highlight three specific requests.
One was restricting trade with other countries.
"We're the partner of choice in many respects for countries around the world, and the Americans wanted to restrict that," he explained.
According to Carney, the U.S. wanted to heavily limit how much Canadian parts and steel would be used on future vehicles.
Lastly, Carney noted that the Americans wanted the country to make concessions on our sovereignty and culture.
"They asked too much, and offered too little," he added.
Since talks have been suspended, the U.S. has put into effect its new 50 per cent tariffs on roughly $28 billion of Canadian goods. Carney said Canada will match the tariffs, which will come into effect the day after Labour Day.
The Canadian tariffs will focus on key American sectors, such as steel, dairy, appliances, agricultural equipment, pulp and paper, and electronics.
Carney explained that this decision wasn't taken lightly.
"Some of these measures will raise costs and reduce choice for Canadians. We [also] recognize that some U.S. companies and U.S. States are innocent bystanders in a dispute that they did not want," he added.
Despite the latest setbacks, Carney said there's still a path towards a deal, but only one that benefits both sides.
"One that respects our sovereignty, one that builds on our complementary strengths, one that lowers costs on both sides of the border, [and] one that creates good jobs for our workers," he added.
