U.S. President Donald Trump has announced a 35% tariff on goods imported from Canada, set to take effect from August 1. The decision was shared in a letter to Canadian Prime Minister Mark Carney, which was also posted on Trump’s social media platform, Truth Social. He warned that the tariff could rise even further if Canada decides to retaliate.
In an interview with NBC News, Trump revealed plans to expand tariffs to other countries as well. He said most U.S. trading partners would soon face blanket tariffs of 15% or 20%, up from the current 10%. “We’re just going to say all of the remaining countries are going to pay,” Trump said. Letters to several European Union nations are expected soon.
It remains unclear whether the current trade protections under the USMCA agreement between the U.S., Canada, and Mexico will continue or be scrapped under Trump’s new policy.
U.S.–Canada Trade Facts (2024)
The total value of U.S. goods traded with Canada was approximately $762.1 billion.U.S. exports to Canada stood at $349.4 billion, while imports from Canada were $412.7 billion.
This led to a U.S. goods trade deficit of $63.3 billion with Canada.
In 2023, trade in services between the two countries was about $140.3 billion, with the U.S. holding a $31.7 billion surplus.
Trump’s move signals a major shift in trade policy and could affect supply chains, prices, and business ties between the two countries. More reactions from trading partners and potential responses are expected in the coming days.
Update: Trump Plans Tariffs and Russia Statement Soon
U.S. President Donald Trump said he will send official letter to the EU on Friday, confirming new tariffs. All other countries may face 15–20% tariffs. He also said he will make a major announcement about Russia on Monday. In an interview, Trump criticized Russian President Vladimir Putin for attacks on Ukraine and said the U.S. will send new weapons to Ukraine by buying from NATO allies. He expects the Senate to pass tough new sanctions against Russia, but said it will be his choice whether to use them.
Update: Canada Pauses Tariff Hike as Trump Extends Trade Talks
Canada has delayed its plan to double tariffs on U.S. steel and aluminum after President Donald Trump agreed to extend trade talks until August 1. Ottawa had earlier threatened to raise its counter tariffs from 25% to 50% in response to U.S. duties, but will now maintain the current 25% rate during the negotiation period. However, Canadian officials have warned that if talks fail, they will not hesitate to impose higher tariffs and expand the list of targeted American goods.
