Mark Carney

US President Donald Trump has threatened to rename Lake Ontario to "Lake America" amid trade tensions with Canada. Canadian Prime Minister Mark Carney stated that he would return to negotiations only if Washington adopts the "right approach." Approximately $28 billion in Canadian exports are now subject to 50% tariffs.

The trade war between the United States and Canada is escalating: just hours after new American tariffs of 50% on Canadian goods went into effect today (Saturday) at midnight, Canadian Prime Minister Mark Carney announced that his country would impose retaliatory tariffs. The Canadian tariffs will take effect on September 8, and their full details will be published in the coming days.

Following a second conversation this week with Canadian Prime Minister Mark Carney, the US President announced that he is suspending for three days the imposition of 50% tariffs on Canadian imports so that the parties can sign a new agreement.