Mark Carney

Trade talks between the US and Canada collapsed on Aug 22 with each side ‌blaming the ⁠other for derailing negotiations

Trump possesses an array of tools that can be deployed in the dispute

The two countries blame each other for derailing three days of intensive negotiations

AN AGREEMENT between the US and Canada to avert a fresh round of tariffs fell apart at the last minute, meaning the Trump administration will impose a 50 per cent import tax on billions of dollars in Canadian goods.

Canadian PM Mark Carney said the two sides were “moving towards an agreement”

The auto sector has been a major sticking point in talks

Canada has pushed to reduce the headline tariff rate on autos to 10% but the US is insistent on a minimum 15% rate

Cities such as New York, Detroit and Washington have been affected

Selling more oil to Asian markets such as India and China will allow Canada to get better prices per barrel