<ul data-eligibleForWebStory="false"><li>U.S. stocks plummet after President Trump announces a 35% tariff on most imports from Canada starting August 1.</li><li>Dow Jones Industrial Average is down 305 points, while S&P 500 and Nasdaq indices drop 0.6% on news of Canadian tariffs.</li><li>Trump cites fentanyl as a reason for the new duties and warns of higher tariffs if Canada retaliates.</li><li>Despite the tariff threats, the Toronto Stock Exchange is up 0.41% and has risen 9% in 2025, surpassing the S&P 500 index.</li></ul>

U.S. Stocks Plummet As Trump Unveils 35% Tariff On Canada

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