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 trading partners.

President Donald Trump has announced an additional 35% tariff for Canada that will go into effect on August 1 with considerations for an adjustment if “Canada works with me to stop the flow of Fentanyl.” Trump has sent out a number of letters to several different countries announcing his tariff intentions over the last few days.

President Donald Trump has announced a 35% tariff on all imports from Canada, reigniting a trade war with the United States' closest ally and one of its most important trading partners.