Since the April 2 rollout, the US Treasury has collected $64 billion in customs duties, or roughly $70 million a day through June 30.

Canada is one of the United States' top trading partners, with more than $410 billion of goods crossing into the country last year.

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

US stocks are floating near all-time highs as Wall Street maintains cautious optimism that Washington might ink more trade deals, avoiding a worst-case scenario of extraordinarily high tariffs and enabling the resilient economy to continue chugging along.

Canada's retail sales shrank by 1.1% in May as consumers curtailed car purchases and spent less at supermarkets, convenience stores and on alcohol, data showed on Thursday.

Trump recently said he will impose a 35% tariff on Canada, the latest salvo in his on-again, off-again trade war with the U.S. ally and top trade partner.

President Donald Trump’s vows to roll out punishing new tariffs on Aug. 1 have barely made a ripple with investors who are convinced he’ll once again back down. But at the White House, officials insist they’re serious this time.

President Donald Trump said he is considering rebates to US taxpayers from billions in tariff revenue flowing into the country.