Canadian Prime Minister Mark Carney says Canada will keep working toward a new trade framework with the United States despite U.S. President Donald Trump saying he'll raise taxes on many imported good

President Donald Trump late Thursday threatened a 35% tariff on goods imported from Canada, a dramatic escalation in an on-again, off-again trade war with America’s northern neighbor and one of its most important trading partners.

Canada has made concessions to win goodwill with the White House. Trump, in return, has threatened steeper tariffs.

Canada faces another set of tariffs in its ongoing trade talks with the U.S. However, in this latest round of tariff announcements, investors have learned to largely tune them out as negotiating bluster rather than policy commitments.

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

A surprise vote barring the Trump administration from moving the FBI’s headquarters to a new location in Washington, D.C., brought the Senate appropriations process to a halt — a setback for lawmakers working to avert a government shutdown at the end of September.

Japan’s Nissan Motor (NSANY) (NSANF) has suspended U.S. production of three vehicle models destined for Canada due to reciprocal auto import tariffs imposed by the U.S. and Canada.

U.S. President Donald Trump has launched a global trade war with an array of tariffs that target individual products and countries. Trump has set a baseline tariff of 10% on all imports to the United States,