Canadian Prime Minister Mark Carney on Thursday refuted U.S. Commerce Secretary Howard Lutnick's claims that Ottawa tanked trade talks for political purposes, stating Canada is ready to resume negotiations "when the Americans are ready." President Donald Trump later Thursday morning responded on Truth Social, criticizing Carney and suggesting Canada's economy would collapse. This comes as Canada prepares to implement "dollar for dollar" retaliatory tariffs on U.S. goods next week, following Trump's 50% tariffs on Canadian imports.