Trump’s statement comes a day after he announced a trade deal with the EU, which would see a 15 per cent tariff imposed on most European goods being exported to the U.S.

Since the April 2 rollout, the US Treasury has collected $64 billion in customs duties, or roughly $70 million a day through June 30.

The White House is putting pressure on Canada as trade tensions between the two countries rise. Speaking at a press briefing on Thursday, White House press secretary Karoline Leavitt called Canada “a pretty difficult partner” in ongoing negotiations.

About six months after Trump's return to the White House, many in the sector say unpredictability persists around the cost and timing of obtaining the materials they need

President Donald Trump's reasoning that tariffs will punish Canada for its role in the drug crisis doesn't hold water. Tariffs punish consumers.

Trump has sent letters to leaders of dozens of countries outlining the tariff levels set to begin on Aug. 1. In recent months, Trump has rolled back some of his steepest tariffs, meaning delays could be possible in the case of the Aug. 1 deadline. The Trump administration appears to have stood largely behind the deadline in recent days, however.

President Donald Trump’s tariffs could have an unintended side effect: making homeownership even less affordable for many Americans.

President Trump’s tariff rollout has taken numerous twists and turns since launching earlier this year. The stakes are climbing ahead of Aug. 1, Trump’s self-imposed deadline for reaching trade deals.