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.

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

The United States will start charging 30% tariffs on August 1 on products coming into the country from the European Union, President Donald Trump confirmed Saturday.

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

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

If implemented, Trump's new 35 percent duties will be "separate from all Sectoral Tariffs," such as the 50 percent tariff on steel and aluminum imports. Trump also promised that, if Canada raises its own tariffs in response, then "whatever number [Canada chooses] to raise them by, will be added onto the 35% that [the U.S. charges]."