Multiple states bordering Canada could feel the greatest impact of a 35 percent tariff on Canadian products starting August 1.

President Donald Trump said the U.S. will increase its tariff rate on Canadian goods to 35% starting next month.In a letter to Canada’s Prime Minister Mark Carney posted on Trump’s Truth Social account late Thursday,

Trump this spring imposed a 25% tariff on cars and car parts, including those from Canada. But certain cars and parts qualify for preferential treatment under the USMCA, meaning the 25% tariff applies only to the non-U.S. content of the automobile or part.

President Trump’s ever-swerving tariff regime has taken more sharp turns in recent days.On July 7, his administration pushed back some of its most punishing duties by three more weeks to August, following a 90-day delay.

Trump threatened to escalate tariffs beyond 35% if Canada opts to retaliate with tariffs on U.S. goods. Canadian goods are also subject to sector-specific tariffs, such as 50% levies on steel and aluminum as well as 25% tariffs on non-USMCA compliant autos and auto parts.

President Donald Trump’s shock-and-awe tariff campaign is off to a slow start when it comes to reviving American manufacturing jobs.

The Dow, S&P 500 and Nasdaq retreat from record highs as President Trump rolled out a fresh tariff against Canada, following Brazil hit. Meanwhile, the Federal Reserve and Chairman Powell are under fire for spending on renovations.

The U.S. has sanctioned Myanmar's military junta and refused to acknowledge its rule, so Mr. Trump's personal letter to its leader was welcomed, despite the subject.