President Donald Trump has announced an additional 35% tariff for Canada that will go into effect on August 1 with considerations for an adjustment if “Canada works with me to stop the flow of Fentanyl.”
Trump has sent out a number of letters to several different countries announcing his tariff intentions over the last few days.
“Starting August 1, 2025, we will charge Canada a Tariff of 35% on Canadian products sent into the United States, separate from all Sectoral Tariffs,” Trump wrote in a letter to Canadian Prime Minister Mark Carney posted to social media.
The president’s tariffs on Canada will be some of the most impactful for U.S. consumers, as border states share energy and other things with the country. He said that if Canada offers reciprocal tariffs, he will increase the tariffs to whatever their number is on top of the 35%.
Countries who have not received a letter or who have reached a trade agreement will be charged a blanket rate, NBC News reported Thursday.
“We’re just going to say all of the remaining countries are going to pay, whether it’s 20% or 15%. We’ll work that out now,” Trump said, according to the outlet.
NINETY DEALS IN 90 DAYS: THE DOLLAR HAS DROPPED STEADILY, DEFYING TRUMP TARIFFS
Canada is the top buyer of U.S. exported goods, importing around $349 billion in 2024. They also shipped $413 billion worth of goods to America last year, the third-highest for any country to the U.S.
Trump added that there will be no tariffs if Canada decides “to build or manufacture product within the United States and, in fact, we will do everything possible to get approval…in a matter of weeks.”
