Ontario Premier Doug Ford says Prime Minister Mark Carney has agreed to a first ministers meeting following U.S. President Donald Trump’s latest tariff threat.

President Trump warns Canadian Prime Minister Mark Carney of a new 35% tariff on Canadian imports if the country doesn't address fentanyl trafficking and existing trade disputes.

The letter reiterated Trump’s complaints about dairy quotas, fentanyl and the U.S. trade deficit, which is mostly fueled by American refineries’ thirst for Canadian oil. His social media post caused the Canadian dollar to immediately tumble, indicating the market wasn’t expecting this escalation.