Donald Trump capped off a whirlwind series of tariff threats with confirmation that he has broken yet another tariff revenue record, ending a week where his trade war got more complicated than ever.

The dollar edged up across the board on Friday as U.S. President Donald Trump's ramped-up tariffs on Canada and other trading partners sparked a flight to safety.Trump issued a letter late on Thursday that said a 35% tariff rate on all imports from Canada would apply from August 1.

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 president said the blanket 35% would be on top of tariffs on certain sectors. That’s higher than the previous 25% rate.

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 announced on Wednesday night that the United States will impose a 50 percent tariff on copper, effective August 1. Trump wrote on Truth Social that he came to the decision after a "robust NATIONAL SECURITY ASSESSMENT."

Prices of clothing and shoes are expected to be particularly impacted by the tariffs, Yale University’s Budget Lab found.

The U.S. dollar rose on Friday, fuelled by upheavals on the global trade landscape, as U.S. President Donald Trump announced more import tariffs, ranging from 35% on neighbouring Canada to plans for blanket levies of 15% or 20% on most trading partners.

For most world leaders, tariff letters from US President Donald Trump mean a big headache. But for one Southeast Asian general, the communique is being spun as welcome recognition of the embattled, isolated and reviled junta he leads.