Carney calls Trump's fresh tariffs a 'miscalculation' after trade talks collapse

NEW: Canada to impose retaliatory tariffs on the US starting September 8, PM Mark Carney calls Trump's fresh 50% levies a 'miscalculation' designed to 'hurt and divide us' after trade talks collapsed.

Dollar for dollar. That's Canada's answer to Trump's fifty percent tariffs.

Mark Carney went on television this morning and called the new levies a miscalculation, one designed, in his words, to hurt and divide us. He says he walked away from the table because the Americans asked too much and offered too little, and he wasn't willing to compromise Canada's sovereignty to close a deal.

So from September 8, Canada matches Washington tariff for tariff. Steel, dairy, appliances, electronics, all of it. Carney says he's doing it reluctantly, which is diplomat speak for watch me do it anyway. Donald Trump, notably, hasn't said a word yet, and each side blames the other for last-minute changes that blew the whole thing up.

Here's what strikes me. Both capitals thought they had a deal on Tuesday. By Friday night they had a trade war. That's how fast this went from handshake to escalation, and nobody's shown a way back.

This is Sara White, reporting for HIT.