President Donald Trump is heading to Texas with first lady Melania Trump to survey flood damage to tour areas devastated by flash flooding.Late Thursday, Trump announced that a 35% tariff rate would go into effect on Canada starting Aug.

Earlier this year in April, Trump announced the “Liberation Day tariffs”, which included a 24% tariff on Malaysian exports as part of a broader global plan targeting roughly 49 more countries. He then paused it for 90 days to allow for negotiations.

President Donald Trump has sent out tariff letters to seven smaller U.S. trading partners in his first batch of import tax announcements of the day.

The US is still Malaysia’s third-largest buyer for chip exports. The Southeast Asia nation is also responsible for packaging nearly 10% of the world’s semiconductors, and around 40% of its exports are electrical and electronic products. In 2024, the country sold over 575.45 billion ringgit-worth of semiconductors, equal to about $135 billion.

China has been a fierce critic of sweeping U.S. tariffs that Trump announced on April 2. He later delayed the implementation of most but China, which has said it will respond with its own tariffs on U.S. imports, now faces a deadline next month to negotiate a deal.

Trump’s move deepens a rift between two North American countries that have suffered a debilitating blow to their decades-old alliance.

The U.S. started imposing tariffs by letter to a variety of countries Monday, pairing new rates with an explicit warning that even those could change at any time. Why it matters: After months of threats,

Donald Trump's top trade negotiators have added more time to the clock after the White House failed to reach its 90 deals in 90 days target.

President Donald Trump revealed new higher tariff rates for more than a dozen countries after hitting Japan and South Korea first earlier in the day.