Headlines

Trump puts 35% tariff on Canada, eyes 15%-20% tariffs for others

Published by Global Banking & Finance Review

Posted on July 11, 2025

2 min read

· Last updated: January 23, 2026

Add as preferred source on Google
Trump puts 35% tariff on Canada, eyes 15%-20% tariffs for others
Global Banking & Finance Awards 2026 — Call for Entries

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

Trump Announces 35% Tariff on Canadian Imports, Plans More for Others

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.)

Key Takeaways

  • Trump announces a 35% tariff on Canadian imports.
  • Tariffs of 15%-20% planned for other trade partners.
  • New tariffs affect allies like Japan and South Korea.
  • A 50% tariff is set on copper imports.
  • Further tariffs may be applied to remaining countries.

Frequently Asked Questions

What tariff rate did Trump announce for Canada?
Trump announced a 35% tariff on imports from Canada, set to take effect on August 1.
What will happen if Canada retaliates?
Trump stated that the tariff rate would increase if Canada retaliated against the new tariffs.
What other countries are affected by Trump's tariffs?
In addition to Canada, Trump has set new tariffs on allies such as Japan and South Korea.
What is the proposed tariff rate for other countries?
Trump mentioned that other trading partners could face blanket tariffs of either 15% or 20%.
How does Trump plan to implement these tariffs?
Trump indicated that not all countries need to receive a letter; the tariffs are being set broadly for remaining countries.

Tags

Related Articles

More from Headlines

Explore more articles in the Headlines category