Trump Imposes 35% Tariff on Canada, Threatens Higher Rates If Retaliation Occurs

US President Donald Trump declared on Thursday that a 35% tariff will be imposed on Canadian imports starting next month. Furthermore, he intends to impose uniform tariffs of 15% or 20% on most other trading partners.

In a letter circulated on social media, Trump reminded Canadian Prime Minister Mark Carney that the higher rate would go into force on August 1 and would grow if Canada responded.

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Trump has escalated his trade fights by placing fresh tariffs on numerous countries, including allies Japan and South Korea, as well as a 50% duty on copper.

In a Thursday interview with NBC News, Trump stated that other trade partners who have not received comparable notices will certainly face substantial penalties.

"Not everyone needs to receive a letter, you know that. We're simply establishing our tariffs," Trump said in the interview. He further explained, "All remaining countries will be required to pay, whether it's 20% or 15%. We'll determine that now," NBC reported.

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