Trump’s move deepens a rift between two North American countries that have suffered a debilitating blow to their decades-old alliance.

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 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.