Trump increases tariffs on Canadian goods to 35%, effective August 1

Trump increases Canada's tariffs to 35%

On Thursday, US President Donald Trump signed an executive order raising tariffs on Canadian imports from 25% to 35%, according to a statement from the White House. The updated tariff rates will take effect on August 1.

"In response to Canada's continued inaction and retaliation, President Trump has found it necessary to increase the tariff on Canada from 25% to 35% to effectively address the existing emergency," the White House said.

Carney's office did not immediately respond to requests for comment.

According to a White House fact sheet, goods rerouted through another country to bypass the new tariffs will face a 40% transshipment levy.

The tariff increase, attributed by the White House to Canada's "continued inaction and retaliation," follows President Trump's statement that Canadian Prime Minister Mark Carney reached out before the August 1 tariff deadline, although no direct discussions occurred between them.

(With agency inputs)