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.

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.

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.

The Canadian government told employees they may face job losses, as Prime Minister Mark Carney searches for spending cuts to keep the budget deficit in check.

During his election campaign, Prime Minister Mark Carney promised a re-elected Liberal government would solve a number of problems by Canada Day. Here’s a look at three of those promises and whether Carney has fulfilled them.

In a letter released to Mark Carney, Trump said the new rate would go into effect on August 1 and would go up if Canada retaliated. The 35% tariff is an increase from the current 25% rate that Trump had assigned to Canada and is a blow to Carney, who was seeking to agree a trade pact with Washington.

With Mark Carney taking the helm as Canada's new Prime Minister, an overdue opportunity has arrived to reset and reimagine Canada-India relations. The recent invitation of Prime Minister Narendra Modi to the G7 Summit in Kananaskis is not just symbolic-it signals a potential thaw in the diplomatic chill that has hampered meaningful progress between two democracies with massive potential for collaboration.

Canadian Prime Minister Mark Carney has confirmed his government’s review of its C$19 billion F-35 fighter jet deal will be completed by the end of the summer, a move fueled by rising tensions with the Trump administration.