Canadian dollar dips after US-Canada talks collapse into trade war; oil prices fall ahead of US sanctions on Iran – business live

Administration officials have approached each bargaining round convinced of two things: decades of US trade policy hollowed out the nation’s manufacturing communities.

The United States and Canada are barreling toward a deeper trade war after last-ditch efforts to strike a deal collapsed Friday.

After nearly a month of trade negotiations aimed at staving off more U.S. tariffs on Canada, Carney walked away from a deal at the last minute on Friday night, allowing levies of 50% on $20 billion worth of Canadian goods to come into force.

Al Jazeera’s Urooba Jamal explains how a trade war could drive up prices and put jobs at risk.