Carney Vows to Defend Canada as US Tariffs Loom on Aug 19

Canadian Prime Minister Mark Carney said his government will not hesitate to defend the country's interests in the trade war with the United States. The White House announced 50% tariffs on a broad range of Canadian products, including automobiles and dairy, set to take effect on August 19 unless a new trade agreement is reached. The administration argues that Canada maintains unfair trade barriers and discriminatory policies toward U.S. producers.

Carney called the tariffs economically damaging to both countries. He said Canada will continue negotiations while preparing countermeasures. A prolonged dispute would slow Canadian exports and business investment, and raise costs for U.S. companies and consumers that rely on Canadian goods and raw materials.

The USDCAD pair traded near 1.4088 on Friday, holding above its 100- and 200-hour moving averages around 1.4065.