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.

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

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.

President Donald Trump published a letter to Prime Minister Mark Carney on Thursday, accusing Canada of having "financially retaliated" against the U.S.

The letter reiterated Trump’s complaints about dairy quotas, fentanyl and the U.S. trade deficit, which is mostly fueled by American refineries’ thirst for Canadian oil. His social media post caused the Canadian dollar to immediately tumble, indicating the market wasn’t expecting this escalation.

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.

Latest news and live updates as Marco Rubio meets with Russian foreign minister amid tensions over Ukraine and Trump releases tariff letters to trading partners.