Trump slaps 35% tariff on Canada, eyes 15%-20% tariffs for others

President Trump announced a 35% tariff on Canadian imports starting August 1st, with potential increases if Canada retaliates. He has also imposed tariffs on allies like Japan and South Korea, including a 50% tariff on copper. Trump indicated that blanket tariffs of 15% or 20% would likely be applied to most other trade partners soon.