President Donald Trump said the U.S. will increase its tariff rate on Canadian goods to 35% starting next month. An outline of a trade deal with the European Union is close to being finished, a spokesman for the bloc said Friday,

President Donald Trump announced a new set of duties on goods that were not covered by an existing sectoral tariffs in place against Canada.

Many economists already believe it’s a matter of time before Americans start to see sticker shock from the tariffs President Donald Trump has enacted. That timeline could speed up even more if Trump follows through with his latest package of tariff threats slated to take effect in three weeks.