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The US will impose a tariff of 35 per cent on Canadian goods from August 1, Donald Trump said in a letter late on Thursday.
The US president separately told NBC News on Thursday that any countries that had not received a letter from him setting out new tariff regimes would face so-called blanket tariffs of 15-20 per cent.
“We’re just going to say all of the remaining countries are going to pay, whether it’s 20 per cent or 15 per cent. We’ll work that out now,” Trump told NBC News in a phone interview.
“I think the tariffs have been very well-received. The stock market hit a new high today,” Trump added.
Canada is among the US’s biggest trading partners, and flows between the two countries are crucial to business in North America.
The Canadian dollar dropped about 0.3 per cent against its US counterpart after the announcement.
This is a developing story
