<h1>US President announces tariff increase on Canadian goods from 25% to 35% effective August 1st</h1> The US President announced plans to increase tariffs on Canadian goods from 25% to 35%, effective August 1st, citing concerns over fentanyl smuggling and other trade barriers. This escalation strains the North American alliance, with the Canadian Prime Minister responding by strengthening ties with European partners and imposing retaliatory tariffs. The move follows a pattern of aggressive tariff policies targeting multiple countries, including recent measures against other nations. The impact on existing trade agreements remains unclear, with a scheduled review of the trilateral North American trade pact in 2026.