US President Donald Trump has announced that all imports from Canada will have a 35% tariff as of August 1. He sent a letter to the country’s president, Mark Carney, informing him of the new rate, which has also been posted on his Truth Social account.

President Donald Trump has announced he’s levying tariffs of 30% against the European Union and Mexico starting Aug. 1.

President Donald Trump’s evolving trade policy is set to sharply increase the United States’ effective tariff rate (ETR), with Fitch Ratings warning of substantial rises as new duties take effect on August 1.

The president said the blanket 35% would be on top of tariffs on certain sectors. That’s higher than the previous 25% rate.

Four months since Trump fired the opening salvo of his trade war, only China and Canada have dared to hit back at Washington imposing a minimum 10 per cent global tariff, 50 per cent levies on steel and aluminium, and 25 per cent on autos.

President Trump stated the U.S. is nearing a trade agreement with India and potentially the EU, while a deal with Canada remains uncertain. These negotiations occur before an August 1 deadline that could see increased duties on U.

After long insisting that Canada could avoid Trump tariffs through talks, Mark Carney now says that is unlikely for any nation.

Canadian Prime Minister Mark Carney reportedly said on Tuesday that it may not be possible for Canada to avoid U.S. tariffs. “There is not a lot of evidence right, with regards to negotiations, of any country or jurisdiction,