Published by Global Banking & Finance Review®
Posted on July 11, 2025
2 min readLast updated: January 23, 2026
Add as preferred source on GoogleTrump announces a 35% tariff on Canadian imports starting Aug. 1, with 15%-20% tariffs planned for other countries, affecting global trade dynamics.
WASHINGTON (Reuters) -U.S. President Donald Trump said on Thursday the United States would impose a 35% tariff on imports from Canada next month and planned to impose blanket tariffs of 15% or 20% on most other trade partners.
In a letter released on his social media platform, Trump told Canadian Prime Minister Mark Carney the new rate would go into effect on Aug. 1 and would go up if Canada retaliated.
Trump has broadened his trade war in recent days, setting new tariffs on a number of countries, including allies Japan and South Korea, along with a 50% tariff on copper.
In an interview with NBC News published on Thursday, Trump said other trading partners that had not yet received such letters would likely face blanket tariffs.
"Not everybody has to get a letter. You know that. We’re just setting our tariffs," Trump said in the interview.
“We're just going to say all of the remaining countries are going to pay, whether it’s 20% or 15%. We’ll work that out now,” Trump was quoted as saying by the network.
(Reporting by Jeff Mason, Jasper Ward and Ismail Shakil; Editing by Lincoln Feast.)
Trump announced a 35% tariff on imports from Canada, set to take effect on August 1.
Trump stated that the tariff rate would increase if Canada retaliated against the new tariffs.
In addition to Canada, Trump has set new tariffs on allies such as Japan and South Korea.
Trump mentioned that other trading partners could face blanket tariffs of either 15% or 20%.
Trump indicated that not all countries need to receive a letter; the tariffs are being set broadly for remaining countries.
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