The Canadian dollar was sliding following President Trump's threat of a 35% tariff against Canada. But the bigger picture is what it might presage for U.S. negotiations with the European Union. The U.

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 president announced the 35% tax in a letter to Canadian Prime Minister Mark Carney posted to Truth Social, citing Canada's alleged "failure to stop the drugs from pouring into our country," as well as retaliatory tariffs Canada has imposed on U.