Canada supplies significant amounts of America's oil and $412 billion in goods annually. Trump's escalating trade war means your gas tank and grocery cart are about to get much more expensive.

Trump threatened to escalate tariffs beyond 35% if Canada opts to retaliate with tariffs on U.S. goods. Canadian goods are also subject to sector-specific tariffs, such as 50% levies on steel and aluminum as well as 25% tariffs on non-USMCA compliant autos and auto parts.

Canadian Prime Minister Mark Carney says Canada will keep working toward a new trade framework with the United States despite U.S.

The president said the blanket 35% would be on top of tariffs on certain sectors. That’s higher than the previous 25% rate.

As President Trump ramps up the pressure on dozens of countries, trade experts fear U.S. tariff policy leaves consumers and businesses in limbo.

In a letter released on his social media platform, Donald Trump told Canadian Prime Minister Mark Carney the new rate would go into effect on August 1 and would go up if Canada retaliated.

President Donald Trump said Monday that he would impose secondary tariffs on Russia of 100% if a peace deal with Ukraine isn’t reached in 50 days. “We are going to be doing very severe tariffs if you don’t have a deal in 50 days,

Since taking office, the Trump administration has imposed tariffs on the import of goods from various countries. The governor’s office claims that the tariffs have increased the prices of household goods, automobiles and housing, as companies are often forced to pass the costs on to consumers in order to remain profitable.