Canadian Prime Minister Mark Carney on Saturday morning called steep new U.S. tariffs on a wide swath of his country’s goods “a miscalculation” after trade talks with Canada collapsed late Friday night.

Axar.az reports, citing NBC News, that the 50% duties went into effect at the stroke of midnight. Carney blamed the breakdown of talks on what he said were the Trump administration’s “uneconomic” and “unfair” demands.

“In recent days, the United States proposed new terms that were uneconomic, unfair, and undermined the net benefits for Canada, and called into question the reliability of any deal. In short, they asked too much, and they offered too little,” Carney told reporters at a press conference.

After weeks of talks, Carney on Friday announced that while important progress had been made, “that progress has not been enough to meet our objectives for Canadians.”

“As a result, this evening, I have decided to suspend trade negotiations with the U.S. and have directed Canada’s negotiators to return to Ottawa,” Carney said in an emailed statement minutes before the deadline.

On Saturday, he thanked the negotiators, saying, “They’ve worked hard in good faith, right up to the last minute, to defend the interests of Canadians,” but ultimately they had to reject what he said was “a bad deal.”

The tariffs affect about $20 billion worth of U.S. imports from Canada, according to the U.S. trade representative’s office. The import taxes will hit everything from hockey sticks to some building materials, liquors and certain kinds of clothing.

It should be noted that trade talks in Washington resumed on Friday morning. The parties have been trying to reach an agreement before the 50 percent tariffs take effect. Meanwhile, U.S. President Donald Trump said on Wednesday that the sides were close to a "very fair" deal.