President Trump raises tariffs on virtually every trading partner, including 35% on Canada.
About 85% of the goods that Canada exports to the US are covered by that accord,
so 35% on 15% of trade.
It's still a much better deal than any of the other partners got.
Right now, Canada is trying to preserve that USMCA exemption.
What they're trying to do is limit damage to key sectors.
But in a sign of relief, levies won't begin until August the 7th.
We look at what this all means for countries, consumers and the markets.
It's Friday, August the 1st.
I'm Azhar Sukhri for The Wall Street Journal.
Here is the AM edition of What's News,
the top headlines and business stories moving your world today.
President Trump has signed an executive order that significantly raises tariffs on virtually every US trading partner,
with the new regime taking effect on August 7th.
The big surprise was that he gave another week for this to be implemented.
That leaves a window open for further negotiation.
So the levels we see here, you know, might not be the final levels.
And even after August 7th, there might be further negotiations down the line.
The big,
big thing which happened earlier in the day on Thursday was Mexico getting a reprieve to negotiate its levels.