The president said the blanket 35% would be on top of tariffs on certain sectors. That’s higher than the previous 25% rate.

President Donald Trump ratcheted up tariffs on Canada late Thursday, stoking tensions with a top U.S. trade partner as the two sides try to hash out a trade agreement by the end of the month. The Dow Jones Industrial Average tumbled 250 points,

President Donald Trump threatened a 35% tariff on some Canadian goods and raised the prospect of increasing levies on most other countries, ramping up his trade rhetoric in comments that weighed on stocks and boosted the US dollar.