Carney ready to talk trade with Trump if 'there's respect for sovereignty

Canada's Prime Minister-designate Mark Carney has said he is ready to negotiate a renewed trade deal with US President Donald Trump, as long as there is "respect for Canadian sovereignty". 

Carney made these comments during a visit to a steel plant in Hamilton, Ontario, as Canada unveiled C$29.8bn ($20.7bn) in reciprocal tariffs on US imports.

Trump earlier slapped 25% tariffs on all steel and aluminium coming into the country.

Since Trump took office in January, the two countries have been involved in an escalating trade war, with the US president repeatedly threatening to annex its neighbour

Carney condemned the latest round of US tariffs as "unjustified" on Wednesday. 

"We're all going to be better off when the greatest economic and security partnership in the world is renewed, relaunched," he said.

Canada, which is the biggest foreign supplier of steel and aluminium to the US, is heavily exposed to the tariffs.

Trump has justified the tariffs, claiming they were necessary for US national security and to boost demand for domestic producers, which he argues has been "depressed" by foreign competition.

The US president implemented a blanket 25% tariff on goods from Canada and Mexico, citing concerns over drugs and migrants crossing the US border.

The tariffs on steel and aluminium, effective from Wednesday, mark the end of exemptions previously granted to several countries, including Canada.

In retaliation, Canada announced tariffs on US goods, including steel and aluminium, with additional measures taking effect today.