World shares retreated Friday after President Donald Trump issued a new set of import duties that will apply to dozens of countries as of Aug. 7. U.S. futures fell 0.9% after Trump announced tariff rates of up to 41% for imports from 68 countries and the European Union.

Discrepancies between the two sides' version of the deal have emerged, and key details of the agreement are yet to be negotiated.

The European Union and the US have announced a political agreement that will completely reset the €1.7 trillion ($2 trillion) transatlantic trade relationship.