Canadian Prime Minister Mark Carney said Canada is stepping up trade negotiations with the United States but is prepared to retaliate if President Donald Trump's proposed 50% tariffs on Canadian goods take effect on August 19. Carney said "everything's on the table" if no deal is reached, while stressing Canada will diversify its economy and expand trade beyond the U.S. The tariffs would affect about C$28 billion (US$19.8 billion) in Canadian exports, with Ontario, Quebec and British Columbia expected to be hardest hit.
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