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Canada has announced retaliatory tariffs on more than 700 U.S. products, valued at approximately $19.9 billion, set to take effect on September 8. This action escalates the ongoing trade dispute between Canada and the United States, following the collapse of recent trade talks. Canadian Prime Minister Mark Carney described the new U.S. tariffs as a "miscalculation" intended to "hurt and divide" Canada, stating he walked away from a deal because the U.S. demands were too high and their offers too low, compromising Canada's sovereignty. The imposition of these counter-tariffs signifies a significant development in the bilateral trade relationship, impacting a wide range of goods and underscoring the breakdown in negotiations between the two North American neighbors.