Trump will raise Canadian tariffs to 35% more than fentanyl imports starting Friday
The “Big Money Show” panel discusses the success of the Fed’s interest rate plans and President Donald Trump’s tariff strategy.
president Donald Trump It has increased Canadian tariffs from 25% to 35% since Friday after US neighbours failed to curb the imports of fentanyl and other illegal drugs.
The White House noted that Trump signed an executive order on Thursday to increase tariffs in an effort to take responsibility for Canada’s role in the flow of illegal drugs to the United States.
Additionally, Trump signed another executive order on Thursday to change mutual tariff rates in some countries to further address the US trade deficit.
The action reflects Trump’s efforts to protect the United States from foreign threats to national security and the economy by ensuring “a fair and balanced mutual trade relationship,” the White House said.
Trump threatens 35% tariffs on Canadian goods over dangerous cross-border fentanyl conflict
President Donald Trump signed an executive order on Thursday, increasing the country’s failed efforts to curb Canada’s tariffs from 25% to 35%. (Jabin Botsford/Getty Images/Washington Post via Getty Images)
The president announced an additional 10% tariff in all countries, but on April 2, the US announced that tariffs were high in countries with large trade obstacles, and came into effect on April 9.
Trump and his team have since made several trade deals with several countries.
For example, the US has signed a contract with the European Union, where the EU agrees to purchase $750 billion in US energy and make a new investment of $600 billion by 2028. The EU has agreed to accept a 15% tariff rate.
Trump has announced that it will wipe out 50% tariffs on Brazilian imports, which begin in August. 1
President Donald Trump speaks at a “wealthy American” trade announcement event held at the White House Rose Garden on April 2, 2025. (Chip Somodevilla / Getty Images / Getty Images)
The US has also agreed to sign a deal with Japan and invest $550 billion in the US to rebuild and expand its industry. Japan also agreed to expand its own market to US exports, and, like the EU, Japan agreed to pay a baseline 15% tariff rate.
The revised list of mutual tariffs from the White House shows that Syria faces 41% tariffs and 40% tariffs will be charged to Myanmar and Laos.
Switzerland is required to pay a 39% customs duties. Serbia and Iraq will be charged a 35% tariff. Algeria, Bosnia, Herzegovina, Libya and South Africa will be charged a 30% tariff.
The White House said Trump is using tariffs as a necessary and powerful tool to put America first after years of unfounded trade deficits that threaten our economy and national security.
Trump announces increased tariff charges in more countries in a letter published on social media
The Trump administration is imposing a 35% tariff on Canada for failing to deal with the fentanyl crisis. (Jason Redmond / AFP Getty Images / Getty Images)
One threat to the US is the fentanyl flow from both Mexico and Canada.
Earlier this month, Trump threatened to impose a 35% tariff on Canadian goods on August 1 after accusing Canada of not stopping the fentanyl flow domestically and retaliating with its own tariffs instead.
According to US Customs and Border Protection (CBP), 74 pounds of fentanyl were seized at the northern border in 2025.
The White House said the Mexican cartel runs Canadian fentanyl and nitazen synthesis labs.
The Trump administration also claimed that the Canadian-based drug lords maintain a “Super Lab” in rural and dense regions in western Canada. Some labs can produce between 44 and 66 pounds of fentanyl per week.
Trump announces 25% tariffs in South Korea’s Japan
Canadian Prime Minister Mark Carney will greet President Donald Trump at the official welcome ceremony at the G7 Leader Summit in Kananaskis, Alberta on June 16, 2025. (Chip Somodevilla / Getty Images / Getty Images)
In a letter to Canadian Prime Minister Mark Carney earlier this month, Trump said it was a great honor to send a letter showing the strength and commitment of the United States. Canada‘s Business relations. However, he also pointed to a sour relationship, stating that the US agreed to continue working together despite Canada’s impose tariffs on the US.
Trump warned Canada from August 1st that the US would send a 35% tariff on Canadian products to the US, separately from all departmental tariffs. He said nothing again Shipped items Trump said that the way to avoid a 35% tariff would be subject to higher tariffs.
Earlier this year, President Trump imposed 25% Canadian steel tariffs, Automobiles and other products are not based on the US Mexico and Canada Agreement.
Canada retaliated with its own tariffs worth $43 billion on the US
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Trump announced tariffs on his first day in office in January after declaring fentanyl’s death as a national emergency.