The letter reiterated Trump’s complaints about dairy quotas, fentanyl and the U.S. trade deficit, which is mostly fueled by American refineries’ thirst for Canadian oil. His social media post caused the Canadian dollar to immediately tumble, indicating the market wasn’t expecting this escalation.

President Donald Trump has managed to make his erratic trade policies even more baffling to countries desperate to negotiate an escape from his wrath.

Canada’s PM Carney rejects Trump’s fentanyl claims amid 35% tariff threat. US-Canada trade talks extended to August 1 as global tariffs escalate.

Prime Minister Mark Carney says U.S. President Donald Trump has multiple objectives in his trade talks with various countries, including how it will impact the U.S. budget.

A day after President Trump announced a new 35 percent tariff on Canadian goods beginning next month, Prime Minister Mark Carney said Canada had made “vital progress” towards stopping fentanyl.

Canadian Prime Minister Mark Carney's statement came after US President Donald Trump said the new tariff rate would go into effect on August 1 and would go up if Canada retaliated.

Canadian Prime Minister Mark Carney responded on Friday to President Donald Trump's threats to impose a 35% tariff on Canada starting Aug. 1, an increase from the initial 25% tariff rate he had set earlier this year.

U.S. President Donald Trump is threatening to hit Canadian imports with 35 per cent tariffs on Aug. 1, reviving the trade war between the neighbouring countries.