Countries around the world received the news of President Trump's tariff rates as August began. In Canada, a 35% tariff is bound to impact the lumber, steel and aluminum. CBS News' Natalie Brand and Elizabeth Palmer report.

Tariff expenses are starting to pile up for auto manufacturers and suppliers. General Motors Co., for example, said tariffs cost it $1.1 billion in the second quarter, while Stellantis expects a full-year tariff impact of $1.2 billion-$1.8 billion.

U.S. President Donald Trump on Thursday signed an executive order increasing tariffs on Canadian goods to 35% from 25% on all products not covered by the U.S.-Mexico-Canada trade agreement, the White House said.