US President Donald Trump announced a 35% tariff on all imports from Canada, effective on August 1. In a letter to Canadian Prime Minister Mark Carney, Trump connected the tariffs to Canada’s earlier retaliatory actions and alleged failure to stop fentanyl smuggling into the US.
Trump stated he might adjust the tariff if Canada cooperates on curbing fentanyl flow. The 35% tariff would be separate from existing sectoral tariffs, such as a 50% charge on copper imports.
It remains unclear how these new tariffs might affect imports currently covered by the US-Mexico-Canada Agreement (USMCA).