United States President Donald Trump on Friday (March 7) slammed Canada for "cheating United States Farmers while threatening the nation with around 250 per cent tariffs on dairy products.

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This comes just a day after he provided Canada and Mexico, vital US trading partners, a temporary reprieve, exempting goods from both countries under a North America trade pact.

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Trump's proposed Canada tariffs

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Taking to Truth Social, Trump alleged, "Canada is cheating the United States Farmers on USMCA."

"In 2024, Canada retained Tariffs on various US Goods, particularly in protected sectors like Dairy that are operated under a supply management system."

He then proceeded to give examples of the unfair Canada tariffs on US and said: "Some examples of Canadian Tariffs on U.S. Dairy outside of the limited quota include: Milk: Up to 243%, Butter: Up to 298%, Cheese: Up to 245%"

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"Our Great U.S. Dairy Farmers deserve fair treatment from Canada. Enjoy it while you can!" he warned.

Earlier in the day, talking to reporters in the Oval Office, Trump said that "reciprocal tariffs" may come in force as soon as April 2.

"Canada has been ripping us off for years on tariffs for lumber and for dairy products," he alleged, warning that the nation will be "met with the exact same tariff unless they drop it."

"That's what reciprocal means," noted the president.

"We may do it as early as today, or we'll wait till Monday or Tuesday," he said.

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(With inputs from agencies)