However, just a week later, he suspended them for 90 days to allow time for trade negotiations that would ease the market turmoil.

The letter to Canadian Prime Minister Mark Carney is an aggressive increase to the top 25% tariff rates that Trump first imposed in March.

In a statement on X, Canadian Prime Minister Mark Carney responded: “Throughout the current trade negotiations with the United States, the Canadian government has steadfastly defended our workers and...