Carney’s speech on Saturday was his first address to Canadians after he announced late on Friday night that a deal would not be reached, accusing the Americans of making “last-minute changes” that were “unfair” and “uneconomic”.

US negotiators, meanwhile, accused Canada of making “new demands and walk backs” on terms which had been agreed earlier in the week.

On Saturday, US trade representative Jamieson Greer told Fox News there were no plans to resume talks.

He added that the US had been prepared to cut some of its tariffs on Canada as part of the deal that fell apart.

“They’ve always had the best deal, and they still would have an even better deal, but they didn’t want that,” said Greer.

Carney, however, said the US presented “unacceptable” terms that were too restrictive, including curbing Canada’s ability to strike new trade deals with other countries.

The prime minister also rejected the assertion that Canada had made last-minute requests: “We clarified what was on offer and were continually disappointed by the answers.”

The collapse comes after more than a year of on-again, off-again trade talks, which intensified in recent weeks after a US-imposed deadline to strike a deal or face further tariffs.

The two countries were also engaged in a mandatory review of an existing North American free trade agreement, known as USMCA, with Mexico.

The pact was signed by Trump during his first term to replace the 1994 North American Free Trade Agreement. It underpins $1.6tn (£1.2tn) in annual trilateral trade across Canada, the US and Mexico.

Earlier this summer, Canada and Mexico had formally requested for USMCA to be renewed for another 16 years. The US, however, declined to renew it in its current form.

Asked how Friday’s trade talk collapse would impact the North American free trade pact, Carney said it was “certainly not good news”.

Tariffs – a tax placed on imports from other countries – have been a key component of Trump’s trade policy, with the US president arguing they will boost American manufacturing and create jobs at home.

Critics, however, say tariffs have raised prices for American consumers and have disrupted and damaged the global economy.