Trump Tariff Tracker -- July 16

President Trump continues to issue letters to countries notifying them of the tariff rates they will be subject to come August 1. For the United States' most important trading partners, Canada, Mexico and the EU, this means an increase in the tariff rates they can expect. In a letter to Canadian Prime Minister Carney, President Trump said he will raise tariff rates on many imported goods from Canada to 35%, effective August 1. In similar letters to Mexico and the EU, President Trump announced new tariff rates of 30% on imports from those trading partners. However, it has been reported from administration officials that these tariff rates for Canada and Mexico would "most likely" only apply to goods that do not comply with the USMCA. Although, the administration has said that there have been no final decisions on how broadly the tariffs would apply.