Canadian Prime Minister Mark Carney says Canada will keep working toward a new trade framework with the United States despite U.S.

Trump threatened to escalate tariffs beyond 35% if Canada opts to retaliate with tariffs on U.S. goods. Canadian goods are also subject to sector-specific tariffs, such as 50% levies on steel and aluminum as well as 25% tariffs on non-USMCA compliant autos and auto parts.

The pause on the biggest of Trump's tariffs won't end this week, but the president continues to pledge steep new duties against major countries.

President Donald Trump extended his "Liberation Day" tariff pause and sent letters to trading partners announcing new tariff rates for Aug. 1.

The Dow, S&P 500 and Nasdaq retreat from record highs as President Trump rolled out a fresh tariff against Canada, following Brazil hit. Meanwhile, the Federal Reserve and Chairman Powell are under fire for spending on renovations.

Major stock indexes were slightly lower on Friday as U.S. President Donald Trump's announcement of tariffs on imports from Canada fanned worries about trade tensions, with the Canadian dollar down against the greenback.

The deadline for the duties to go into effect are still three weeks, which may mean the announcements could be a negotiating move.

It’s almost as if tariffs are the new sanctions. Consider Trump’s announcement Wednesday that Brazil will face 50 percent tariffs. He made that threat in part because he’s upset about how the current Brazilian government is treating former Brazilian President JAIR BOLSONARO,