Canada faces another set of tariffs in its ongoing trade talks with the U.S. However, in this latest round of tariff announcements, investors have learned to largely tune them out as negotiating bluster rather than policy commitments.

Canada will face a 35 percent tariff on exports to the United States starting August 1, President Donald Trump said in a late-night letter to Prime Minister Mark Carney that upends negotiations between the close allies.

President Trump is nearing completion of several trade deals, indicating higher tariffs will apply starting August 1. These changes, aimed at nations aligned with the BRICS, could impact global trade and negotiations with India and Indonesia.