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Canada poised to retaliate against Trump tariffs: 'We're not waiting by the phone'

CNBC Tuesday 25 August 2026, 13:06 UTC 1 min read
Key Points

Dominic Leblanc, Minister of Internal Trade of Canada speaking on CNBC's Squawk Box on Aug. 25th, 2026. CNBC Canada is poised to announce new tariffs on U.S. goods Tuesday in retaliation for the 50% duties that President Donald Trump imposed after a breakdown in trade talks, Canadian trade minister Dominic LeBlanc told CNBC. "Our preference was not to do that," LeBlanc said on "Squawk Box" after confirming Canada's intention to unveil the new tariffs.

Dominic Leblanc, Minister of Internal Trade of Canada speaking on CNBC's Squawk Box on Aug. 25th, 2026. CNBC Canada is poised to announce new tariffs on U.S. goods Tuesday in retaliation for the 50% duties that President Donald Trump imposed after a breakdown in trade talks, Canadian trade minister Dominic LeBlanc told CNBC. "Our preference was not to do that," LeBlanc said on "Squawk Box" after confirming Canada's intention to unveil the new tariffs. "Our preference was to find a deal that benefits both countries," he said. "We still believe that's possible. But in the meantime, we're not waiting by the phone." Canadian officials are set to announce Ottawa's response to the United States' action at a press conference at 11 a.m. ET. This is developing news. Please check back for updates.
Canada (LOCATION) Trump (ORG) Dominic Leblanc (PERSON) Internal Trade of Canada (ORG) CNBC (ORG) Squawk Box (PERSON) U.S. (LOCATION) Donald Trump (PERSON) Canadian (ORG) LeBlanc (PERSON) Ottawa (ORG) the United States' (LOCATION)
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