The US will impose a tariff of 35 per cent on Canadian goods from August 1, Donald Trump said in a letter late on Thursday. The US president separately told NBC News on Thursday that any countries that had not received a letter from him setting out new tariff regimes would face so-called blanket tariffs of 15-20 per cent.

The US president, Donald Trump, has made public the tariffs he intends to slap on imports from another group of countries, including Brazil, from the start of August. The chipmaker Nvidia has become the first company in the world to reach a market value of $4tn on Wednesday.