Trump admin updates: Trump marks 1 year since assassination attempt in Butler, PA

President Donald Trump announced Thursday a 35% tariff on imports from Canada is set to go into effect on Aug. 1.

"It's a great honor for me to send you this letter in that it demonstrates the strength and commitment for our Trading Relationship, and the fact the United States of America has agreed to continue working with Canada, despite Canada having financially retaliated against the United States," Trump wrote in a trade letter posted on his social media platform.

Trump's letter mentioned the flow of fentanyl between the U.S. and Canadian border, which was the stated reason Trump gave for initially proposing tariffs on Canadian goods shortly after taking office.

Trump's letter stated that if Canada helps stop the flow of fentanyl between the two countries, the U.S. will consider adjusting its stance.

Canadian leaders say they have already done a great deal to curb the flow of fentanyl to the U.S.

Trump's letter also cites a trade deficit with Canada that he said comes from tariffs and other trade barriers.

Of note, Canada and Mexico did not face new tariffs on April 2 as part of the "Liberation Day" tariffs and were not subject to the July 9 deadline to make deals with the U.S.

There remains a 25% tariff on goods from Canada and Mexico not covered by the U.S.-Mexico-Canada trade agreement, as well as a 50% tariff on steel, aluminum and derivative products.

-ABC News' Hannah Demissie

Russell Vought, director of the Office of Management and Budget, said Federal Reserve Chair Jerome Powell "has grossly mismanaged the Fed."

"While continuing to run a deficit since FY23 (the first time in the Fed's history), the Fed is way over budget on the renovation of its headquarters," Vought wrote on X.

Vought said "Powell's recent testimony to Congress has led to serious questions that now require additional oversight from OMB, in conjunction with the National Capital Planning Commission," and added that he's written a letter to Powell.

Vought's accusation follows the pressure campaign Trump has fronted, pushing Powell to lower interest rates and has also played with the idea of replacing Powell as Fed Chair.

-ABC News’ Hannah Demissie

President Donald Trump said he's naming Transportation Secretary Sean Duffy the acting administrator of NASA.

"Sean is doing a TREMENDOUS job in handling our Country’s Transportation Affairs, including creating a state-of-the-art Air Traffic Control systems, while at the same time rebuilding our roads and bridges, making them efficient, and beautiful, again," Trump wrote on his social media platform.

"He will be a fantastic leader of the ever more important Space Agency, even if only for a short period of time," Trump said in the post.

The previous nominee to lead NASA, Jared Isaacman, a billionaire with ties to Elon Musk, was pulled from consideration by the White House in late May just days before his scheduled confirmation vote.

-ABC News' Hannah Demissie

President Donald Trump, in a post on his social media platform, announced a 50% tariff on imports of copper will go into effect on Aug. 1.

Trump said he came to the decision after receiving a national security assessment, pointing out that copper is used in semiconductors, aircraft, data centers and lithium-ion batteries, among many other uses.

"Copper is the second most used material by the Department of Defense! Why did our foolish (and SLEEPY!) 'Leaders' decimate this important Industry?" Trump wrote.

-ABC News' Hannah Demissie