As the August 1 deadline for new tariffs looms, Canada and Mexico, two of the largest trading partners of the U.S., find themselves without exemptions. With President Trump's 'Liberation Day' strategy in full swing,

While the United States’ largest trading partner now has more time to reach a trade deal, its second-largest saw its tariff rate increase on Thursday.

U.S. President Donald Trump on Thursday signed an executive order increasing tariffs on Canadian goods to 35% from 25% on all products not covered by the U.S.-Mexico-Canada trade agreement, the White House said.