The president said the blanket 35% would be on top of tariffs on certain sectors. That’s higher than the previous 25% rate.

Canada is one of the United States' top trading partners, with more than $410 billion of goods crossing into the country last year.

US stock futures fell on Friday after President Trump threatened Canada with a 35% tariff on its imports to the US and floated higher blanket levies. Trump on Truth Social posted a letter to Canadian Prime Minister Mark Carney,

On Thursday, the president announced a 35 percent tariff on all Canadian goods not covered by the United States-Mexico-Canada Agreement (USMCA) to take effect on August 1, unless a trade deal is reached before then.

Although markets are trying to shrug off the week's U.S. tariff threats as yet another negotiation tactic, there's growing unease at the daily barrage, the latest being a 35% tariff on Canadian goods and higher levies on other countries.

Plus, the Justice Department has subpoenaed 20 doctors and clinics involved in “performing transgender medical procedures on children.”

Nissan has suspended U.S. production of three vehicle models destined for Canada as mutual tariffs between the U.S. and Canada disrupt cross-border auto trade.