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 faces another set of tariffs in its ongoing trade talks with the U.S. However, in this latest round of tariff announcements, investors have learned to largely tune them out as negotiating bluster rather than policy commitments.

The president said the blanket 35% would be on top of tariffs on certain sectors. That’s higher than the previous 25% rate.

Canada has made concessions to win goodwill with the White House. Trump, in return, has threatened steeper tariffs.

A surprise vote barring the Trump administration from moving the FBI’s headquarters to a new location in Washington, D.C., brought the Senate appropriations process to a halt — a setback for lawmakers working to avert a government shutdown at the end of September.

Japan’s Nissan Motor (NSANY) (NSANF) has suspended U.S. production of three vehicle models destined for Canada due to reciprocal auto import tariffs imposed by the U.S. and Canada.

U.S. President Donald Trump has launched a global trade war with an array of tariffs that target individual products and countries. Trump has set a baseline tariff of 10% on all imports to the United States,