President Donald Trump announced a 30% tariff rate for Iraq on Wednesday in a post on Truth Social, stating that the rate would apply to all goods sent from the country to the U.S. He added that goods transshipped to evade a higher tariff would be subject to that higher tariff.

In a series of social media posts, President Donald Trump revealed higher tariff rates for six more countries as part of his ongoing "reciprocal" tariff policy based on bilateral trade deficits.

President Trump announced a 35% tariff on our northern neighbors of Canada, citing concerns over fentanyl entering the U.S. NBC News’ Monica Alba reports from the White House. CNBC’s Senior Analyst Ron Insana joins Alex Witt to discuss how much more the average American could be spending per year if these tariffs stay in place.

The move injects fresh turmoil into a strained bilateral relationship as Prime Minister Mark Carney negotiates a new economic partnership with the United States.