President Donald Trump announced a new set of duties on Canadian goods that were not covered by existing sectoral tariffs.

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,

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

Canada would bear the brunt of Trump's tariffs in terms of economic contraction, says The Budget Lab of Yale.

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.