In July, President Donald Trump announced his intention to levy 50% tariffs on a wide array of Canadian goods including dairy, motor vehicles, alcoholic beverages and more, effective Aug. 19. The day before these tariffs were set to go into effect, he signed a three-day extension to allow trade talks with Canada to continue. However, on Aug. 21, Canadian Prime Minister Mark Carney announced that trade talks had been suspended, and the tariffs went into effect the next day. Carney cited U.S. demands to restrict Canada’s ability to make trade deals with other countries, as well as to limit French-language protections in Quebec, as reasons the talks fell apart. By contrast, the U.S. claims that Canada walked back terms it had already agreed on. Canada has now announced retaliatory tariffs of its own on U.S. dairy, electronics and steel. As of Aug. 24, Trump has announced further tariffs on Canadian motor vehicles, and the situation remains unresolved.