US stocks fell on Friday after President Donald Trump threatened a 35% tariff on Canada — a sharp escalation in an ongoing trade war. The Dow closed lower by 279 points, or 0.63%. The broader S&P 500 fell 0.

Something different is happening to the U.S. dollar, which recently completed its worst first half of any calendar year since at least the 1970s: The dollar is strengthening this week, despite President Donald Trump’s ongoing tariff talk.

President Donald Trump’s threat to boost import taxes by 50% on Brazilian goods could drive up the cost of breakfast in the United States. The prices of coffee and orange juice — two staples of the American morning diet — could be severely impacted if there's no agreement by Aug.

President Trump’s ever-swerving tariff regime has taken more sharp turns in recent days.On July 7, his administration pushed back some of its most punishing duties by three more weeks to August, following a 90-day delay.

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.

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.

President Donald Trump said the U.S. will increase its tariff rate on Canadian goods to 35% starting next month.In a letter to Canada’s Prime Minister Mark Carney posted on Trump’s Truth Social account late Thursday,