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 faces another set of tariffs in its ongoing trade talks with the U.S. However, in this latest round of tariff announcements, investors have learned to largely tune them out as negotiating bluster rather than policy commitments.

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.

The U.S. Treasury Department on Friday will reveal the strength of President Donald Trump's tariff revenues in its June budget data, as collections from multiple waves of new import duties start to build into a substantial government revenue source.

The S&P 500 followed a record-breaking Thursday by dipping 0.33% Friday after President Donald Trump said he would impose a 35% tariff on Canada on August 1. The stock market dipped on Friday after President Donald Trump issued his latest tariff threat against Canada.

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

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.

In an interview with USA TODAY, Jensen Huang, CEO of the world's most valuable company NVIDIA, discussed President Trump's tariffs and manufacturing.