President Donald Trump threatened a 35% tariff on some Canadian goods and raised the prospect of increasing levies on most other countries, ramping up his trade rhetoric in comments that weighed on stocks and boosted the US dollar.

The 35% level would be one of a range of tariffs on the U.S. ally, some of which are already in place, while others have been threatened and then walked back.

Canadian Prime Minister Mark Carney says Canada will keep working toward a new trade framework with the United States despite U.S.