Carney says U.S. negotiators demanded concessions that would eliminate Canadian auto industry

Prime Minister Mark Carney says U.S. negotiators demanded concessions during recent trade talks that would have forced Canada's core industries—particularly the automotive sector—to either become subsidiaries of American companies or cease to exist.

Carney made the comments during a media scrum on Tuesday after the Liberals won three federal byelections on Monday. He said there were "mutually beneficial" elements of a deal in place before talks broke down last month.

The prime minister maintains that the U.S. side asked for too many concessions that would undermine the auto sector and restrict Canada's ability to pursue other trade deals, effectively compromising Canadian sovereignty.

Canada is willing to return to negotiations when "the Americans stop doing memes" and are ready to have a serious discussion, Carney said.

Canada's counter-tariffs on nearly $28 billion worth of U.S. products are scheduled to take effect on September 8. The trade dispute has already drawn concern from Toronto businesses, who have called recent U.S. tariffs a "killing blow" as higher levies take hold on cross-border commerce.