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.

OTTAWA — Canada is delaying its plans to slap retaliatory tariffs on U.S. steel and aluminum after President Donald Trump sent a letter extending the deadline for trade negotiations between the two North American neighbors — though he also threatened to impose higher tariffs.

The federal government isn’t yet threatening counter tariffs, but says it is still looking to negotiate a trade deal with the U.S. after President Donald Trump threatened tariffs of 35 per cent on non-CUSMA compliant goods effective Aug.

Trump cites fentanyl to impose 35 per cent Canada tariffs, despite data showing 99.8 per cent of seized U.S. fentanyl comes from Mexico. Experts call the move politically driven.

Trump has sent more than 20 letters signaling new tariffs, including a 50% duty on copper and penalties on key Asian allies Japan and South Korea. His administration is also weighing across-the-board tariffs on global partners.

Prime Minister Mark Carney said Thursday the Canadian government will "steadfastly" defend workers and businesses following the latest trade threats by U.S. President Donald Trump.

U.S. President Donald Trump is threatening to slap a 35 per cent tariff on all Canadian goods as the two countries have been engaged in negotiations to reach some sort of trade agreement.

Donald Trump is not a fan of Canada’s dairy supply management system — repeatedly attacking it in his first term and going after it again as he prepares to return to the White House. CBC’s Ellen Mauro meets concerned Canadian dairy farmers and explains why the system has the U.S. president-elect so riled up.

Prime Minister Mark Carney says the Canadian government will "steadfastly" defend workers and businesses following the latest trade threats by U.S. President Donald Trump.

Trump's tariffs could shrink Canada's economy by 2.1% in real terms, says The Budget Lab of Yale. Canada faces a 35% tariff threat by August 1, on top of tariffs on potash, steel, and automobiles. The US ranks second in terms of economic damage due to tariffs,