US President Donald Trump has announced that all imports from Canada will have a 35% tariff as of August 1. He sent a letter to the country’s president, Mark Carney, informing him of the new rate, which has also been posted on his Truth Social account.

Canada became the latest country to be slapped with increased tariffs by the Trump administration on Thursday. Starting August 1,

Canada is one of the United States' top trading partners, with more than $410 billion of goods crossing into the country last year.

The letter reiterated Trump’s complaints about dairy quotas, fentanyl and the U.S. trade deficit, which is mostly fueled by American refineries’ thirst for Canadian oil. His social media post caused the Canadian dollar to immediately tumble, indicating the market wasn’t expecting this escalation.

Doubling down on his trade wars, President Trump is threatening to raise taxes on many goods from Canada and punish Brazil for prosecuting his friend.

The president revived his discredited claims about fentanyl entering the U.S. from Canada to justify his latest proposed rate of 35 percent.

President Donald Trump published a letter to Prime Minister Mark Carney on Thursday, accusing Canada of having "financially retaliated" against the U.S.

Trump, 79, notified Canadian Prime Minister Mark Carney of the incoming tariffs in a letter – one of dozens the president has fired off to foreign leaders this week ahead of an Aug. 1 deadline for

In a letter to Mexico’s president, Claudia Sheinbaum, Mr. Trump said that Mexico was not doing enough to curb the flow of fentanyl into the United States and cited that as the reason for the tariffs. Mr. Trump added that Mexican companies were welcome to manufacture their products in the United States to avoid the tariffs.