#TrumpTariffs The president, Donald Trump, announced this Thursday on his Truth Social network that he will impose a 35% tariff on products imported from Canada starting August 1, reigniting the trade war with his northern neighbor. "Instead of collaborating with the United States, Canada retaliated and imposed its own tariffs," Trump wrote in a letter sent to Canadian Prime Minister Mark Carney, which he shared on Truth Social. "Starting August 1, 2025, we will apply a 35% tariff on Canadian products sent to the United States, in addition to all sectoral tariffs." Trump also stated this Thursday that he plans to impose general tariffs of 15% or 20% on most of his trading partners and dismissed concerns that new tariffs could negatively affect the stock market or drive inflation.

"We're simply going to say that all remaining countries will pay either 20% or 15%. We'll resolve it now," Trump told Kristen Welker, host of NBC News' "Meet the Press," in a phone call. General tariffs are currently at 10%. I believe the tariffs have been very well received. The stock market reached a new high today [Thursday]"