US trade war - a new missive by US Donald Trump threatening an unexpected 35% tariff on Canadian goods starting next month. It came as the two countries engage in intense trade talks meant to produce a new deal in the coming days and what the latest tariff threat means for these negotiations is unclear.

Prime Minister Mark Carney embraced the Calgary Stampede, a tradition former Prime Minister Justin Trudeau skipped, marking his first appearance with mini doughnuts and political engagement. Despite mixed reactions at the chuckwagon races,

The letter reiterated Trump’s complaints about dairy quotas, fentanyl and the U.S. trade deficit, which is mostly fueled by American refineries’ thirst for Canadian oil. His social media post caused the Canadian dollar to immediately tumble, indicating the market wasn’t expecting this escalation.

Canadian Prime Minister Mark Carney responded on Friday to President Donald Trump's threats to impose a 35% tariff on Canada starting Aug. 1, an increase from the initial 25% tariff rate he had set earlier this year.

The Canadian government told employees they may face job losses, as Prime Minister Mark Carney searches for spending cuts to keep the budget deficit in check.