Trump to impose 35% tariff on Canadian imports starting August 1

U.S. President Donald Trump announced a 35% tariff rate on Canada on Thursday, August 10, following previous letters alleging that the neighboring country maintains "unequal" trade relations with the U.S. The new tariffs take effect on August 1.

In the document published in Truth Social, the president points out that he has already imposed tariffs on Ottawa to deal with the fentanyl crisis, caused, in part, "by Canada's failure to prevent the entry of drugs into our country" and that the neighboring nation, instead of working with the US, retaliated with its own tariffs.

The president also stated that there will be no taxation if Canadian or Canadian companies decide to build or manufacture products in the US. "Indeed, we will do everything possible to obtain approvals quickly, professionally, and routinely—in other words, within a matter of weeks," he added.

Canada is the 23rd country to receive a letter about tariffs since Monday. Yesterday, the Republican announced import tariffs for Sri Lanka, Algeria, the Philippines, Libya, Iraq, Moldova, Brunei, and Brazil.