Trump's global reset of trade relationships will remain in the spotlight this week

President Donald Trump's global reset of trade relationships will remain in the spotlight this week as his administration moves forward with sweeping new taxes on imports on Aug. 7.


Trump's global reset of trade relationships will remain in the spotlight this week
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Last week, Trump raised import tariffs on goods from Canada to 35%, signaling a widening rift with America's second-largest trading partner.

Speaking to CBS News on Sunday, Dominic LeBlanc, Canada's lead on U.S. trade relations, said Prime Minister Mark Carney is likely to hold talks with President Trump "over the next number of days."

American consumers often end up bearing the cost of tariffs, as U.S. businesses pass along higher prices to offset the economic burden.

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