US President Donald Trump announced a 35% tariff on Canadian goods, effective August 1, 2025, just days before a critical deadline to finalize a new trade agreement. In a letter posted on Truth Social, Trump also warned of 15-20% tariffs on most US trading partners and signaled upcoming tariffs on the European Union by the same date.
Canadian Prime Minister Mark Carney vowed to safeguard Canadian workers and businesses as the deadline looms. Canada, which exports 75% of its goods to the US, faces severe impacts, particularly in its auto and metal industries. Existing US tariffs include a 25% levy on select Canadian goods, a 50% tariff on global steel and aluminum, a 25% tax on non-US-built vehicles, and a 50% copper tariff set for next month.
Uncertainty surrounds whether the new tariffs will affect goods under the Canada-United States-Mexico Agreement (CUSMA), which currently exempts compliant products. Trump’s aggressive trade moves, including over 20 similar letters sent to other US partners this week, signal a broader push to reshape global trade. Read more>>
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