President Donald Trump announced on Thursday that his latest round of tariffs will go into effect on Aug. 7, not Aug. 1 as expected.
The White House made the last-minute move ahead of Friday’s midnight deadline for foreign countries to finalize trade deals with the United States. White House press secretary Karoline Leavitt said earlier that the president would further modify the tariff rates at some point on Thursday.
While most reciprocal tariffs will take effect at the end of next week, Trump imposed a 35% tariff on Canada for a Friday start date. The tariff rate on Canada was previously 25%.
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The Trump administration announced the higher tariff in response to what it calls “Canada’s continued inaction and retaliation” over the United States’s efforts to
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