US-Canada trade talks collapse and 50 percent tariff exchange in August 2026

As a budding trade war between the U.S. and Canada sparks a round of cross-border insults, the leader of Canada's largest province told CBS News he's hopeful that Canadian officials and President Trump's team can reach an agreement — but cautioned that "no deal is better than a bad deal.""He's treating us like we're Communist China here," Ontario Premier Doug Ford told CBS News chief Washington correspondent Major Garrett, when discussing Mr. Trump's trade strategy with the U.S.'s northern neighbor. "We're the closest friends and allies that the U.S. has anywhere in the entire world, and I want to keep it that way."Talks between the two countries ended last week without a trade deal, leading the Trump administration to follow through on its threats to impose 50% tariffs on some $20 billion worth of Canadian goods. Canadian Prime Minister Mark Carney vowed to retaliate "dollar for dollar"...