Steve Mallia's Toronto-based telescope accessory business was thriving until March when the Trump administration imposed a 25% tariff on U.S.-bound orders that do not comply with local content rules under the U.

President Donald Trump threatened to levy tariffs of up to 250% on pharmaceuticals imported into the United States. The president told CNBC on Aug. 5 that he plans to announce new tariffs "within the next week or so" on imports of pharmaceutical and semiconductor imports.