US President Donald Trump set an August 1 deadline for Canadian Prime Minister Mark Carney to sign a new trade deal. Negotiations have reached a serious impasse, and there’s no resolution in sight, with the president signing a late night executive order on Thursday increasing tariffs on Canada to 35 per cent.

The Canadian prime minister said he was "disappointed" by President Donald Trump's move to increase certain tariffs.

Prime Minister Mark Carney said Friday that he was “disappointed” but would work to build Canada’s economic resiliency and diversify its trading relationships.