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Two men in suit and ties, sitting in yellow chairs smiling. — Prime Minister Mark Carney, left, meets with U.S. President Donald Trump in the Oval Office of the White House, in Washington, D.C., on May 6. (Jim Watson/AFP/Getty Images)

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It's down to the wire on U.S. President Donald Trump's threat to raise his tariff on Canadian goods entering the United States to 35 per cent, up from the 25 per cent rate that he imposed soon after taking office.

Trump set Aug. 1 as the deadline for Canada to reach a trade deal or face the tariff increase.

Here's a brief timeline of the key tariffs on Canada.

Feb. 1

Trump signs an executive order levying tariffs on Canadian exports to the U.S. at 25 per cent on all products, except energy, critical minerals and potash, which are hit with a rate of 10 per cent. The order justifies the tariffs as a way to"address the flow of illicit drugs across our northern border," citing fentanyl as a threat to national security. Trump later announces the tariffs will take effect March 4.

WATCH | What a trade war with the U.S. would mean for Canada:

What would a Canada-U.S. tariff war actually look like? | About That

March 6

Just two days after Trump's tariffs on Canada come into force, Trump amends his executive order, giving an exemption for products that comply with the terms of the Canada-U.S.-Mexico Agreement (CUSMA). The exemption covers nearly 90 per cent of Canadian exports to the U.S., which means the vast bulk of products can cross the border tariff-free.

WATCH | What you need to know about Trump's tariffs on Canada:

U.S. President Donald Trump launched a trade war against two of America's biggest trading partners — Canada and Mexico — taxing imports from those countries at 25 per cent alongside a 10 per cent levy on Canadian energy. Andrew Chang breaks down what we know about why Trump is doing this and how bad the fallout is expected to be.

April 29

After threatening to impose a 25 per cent tariff on automobiles and auto parts from outside the U.S., Trump waters down the levy, so it only applies to parts that aren't CUSMA-compliant and the non-U.S. portion of assembled vehicles. Still, the tariffs have an impact on Canada's auto sector and bite into the profits of North American automakers.

WATCH | Here's where things stand with Trump's auto tariffs:

U.S. President Donald Trump this week amended an earlier order that slapped a 25 per cent tariff on all vehicle imports to the United States. Under the new order, Canadian-made auto parts that are compliant with CUSMA are now exempt when they're being used for vehicles assembled in the U.S.

May 6

Prime Minister Mark Carney, just days after leading his Liberal Party to a minority election win, meets Trump at the White House. Carney presses Canada's case for the removal of tariffs, and while Trump speaks highly of his guest, the president gives no sign he's changing his mind on the issue.

Prime Minister Mark Carney silently mouthed the word 'never' five times and smiled after U.S. President Donald Trump said 'never say never' to the idea of Canada becoming the 51st state during the leaders' Oval Office sit-down.

June 3

Separately from the tariffs on Canadian goods, Trump doubles his tariff on steel and aluminum imports from all countries, to 50 per cent. Canada is the top supplier of both products to the U.S.

Trump’s new tariff threat ‘punch in the gut’ to Canada's steel industry: CSPA

2 months ago

Catherine Cobden, head of the Canadian Steel Producers Association, says U.S. President Donald Trump's new threat, to double tariffs steel and aluminum tariffs to 50 per cent, ‘completely unjustified’ and Ottawa should quickly impose retaliatory tariffs.

July 10

Trump threatens in a letter posted on his Truth Social platform to boost the tariff on Canadian goods to 35 per cent, effective Aug. 1."If Canada works with me to stop the flow of Fentanyl, we will, perhaps, consider an adjustment to this letter," Trump writes.

Canada has quietly been working to cut a deal with its largest trading partner ahead of U.S. President Donald Trump’s Aug. 1 tariff deadline. For The National, CBC’s Jonathon Gatehouse breaks down what that agreement could look like — and what it could cost the country.

July 11

Goods that comply with CUSMA will continue to be exempt from the tariff even if the rate rises on Aug. 1, according to a White House official.

WATCH | Why most Canadian exports still get into the U.S. tariff-free:

U.S. President Donald Trump has threatened new tariffs on Canadian goods if a deal isn’t reached by his self-imposed Aug. 1 deadline. But exports that comply with the CUSMA trade deal will be exempt. The key question: Which goods qualify as compliant — and how will this help Canadian companies?

July 25

One day after Canada's top negotiators downplay the prospects of getting a deal by Trump's deadline, the U.S. president also throws cold water on Canada's chances. "We haven't really had a lot of luck with Canada," he tells reporters at the White House."I think Canada could be one [country] where there's just a tariff, not really a negotiation."

WATCH | 'We haven't really had a lot of luck with Canada,' Trump says:

President Donald Trump said Friday that the U.S. is working 'very diligently' with the EU on tariff talks and has 'the confines of a deal' with China — though he didn't offer details. Trump added there's no deal yet with Canada, saying 'we haven't been focused on it.'

July 30

Prime Minister Mark Carney says Canada's negotiating team is back in Washington for trade talks but gives his clearest indication yet that Canada might not land a deal by Trump's Aug. 1 deadline. Then shortly after midnight, Trump posted on his Truth Social platform,"Wow! Canada has just announced that it is backing statehood for Palestine. That will make it very hard for us to make a Trade Deal with them."

Carney says 'we'll see' about a U.S. trade deal by deadline

1 day ago

Prime Minister Mark Carney says Canada's delegation negotiating with the U.S. on a trade deal is back in Washington ahead of the Aug. 1 deadline imposed by U.S. President Donald Trump, but gave his clearest indication yet that Canada might not land a deal in time.

Here's a timeline of Trump's tariffs on Canada