Canadian Prime Minister Mark Carney said his government was disappointed by Trump’s move to raise the U.S. tariff on goods from America’s northern neighbor to 35% from 25%, effective Friday. Goods transshipped from unspecified other countries face a 40% import duty.

U.S. President Donald Trump's latest wave of tariffs on exports from dozens of trading partners, including Canada, Brazil, India and Taiwan, sent global markets tumbling on Friday as countries pushed for talks to clinch better deals.

World shares have retreated after President Trump issued a new set of import duties that will apply to dozens of countries as of Aug. 7