Trump, 79, notified Canadian Prime Minister Mark Carney of the incoming tariffs in a letter – one of dozens the president has fired off to foreign leaders this week ahead of an Aug. 1 deadline for

Donald Trump surprised markets late Thursday with a letter announcing a 35% tariff on Canadian goods, but some notable industries such as energy could get some relief from the new threat.

The president’s supporters portray him as a top dealmaker. But, at least for now, far more trading partners have gotten stiff tariffs than trade deals.

If implemented, Trump's new 35 percent duties will be "separate from all Sectoral Tariffs," such as the 50 percent tariff on steel and aluminum imports. Trump also promised that, if Canada raises its own tariffs in response, then "whatever number [Canada chooses] to raise them by, will be added onto the 35% that [the U.S. charges]."

US President Donald Trump has increased his tariffs on trading partner Canada, though he seems to have spared energy shipments from any new increases, according to reports. Trump, in a Truth Social post Thursday, said he would elevate the tariff on Canadian import to 35%, up from 25%.

Latest news and live updates as Marco Rubio meet with Russian foreign minister amid tensions over Ukraine and Trump releases tariff letters to trading partners.