Markets wobble after Trump threatens Canada with 35% tariff over alleged ‘flow of Fentanyl’

It follows the weak trading day on Thursday when the S&P 500 records record number of 6,280 points. But several hours after the market was closed on Thursday, Trump posted a message to Truth Social, a social media platform owned by his family, in which Canadian Prime Minister Mark Carney threatened with a 35 % tariff on August 1.

President 47 Carne said that the United States imposed a 25 % tariff against Canada in February because of its alleged “failure” to stop the flow of fentanel across its borders to the states. He also complained about the mutual definitions of its northern neighbor, which carried out Canada in retaliation for the Trump tax on Canadian goods.

“If Canada is working with me to stop the flow of fentanel, then we may consider modifying this letter,” Trump wrote. “These definitions may be modified, up or down, depending on our relationship with your country. You will never be disappointed with the United States of America.”

In response, Carney said that he and his team will continue to negotiate with the United States until the deadline of Trump. The Prime Minister wrote on X. “During the current trade negotiations with the United States, the Canadian government was steadily defended our workers and companies

Meanwhile, Trump said NBC On Thursday, he was considering increasing the customs tariff for most of the US trading partners to 15 % or 20 %. The previous rate that decided to manage in most countries was 10 %.

Wobble is in the stock market on Friday amid a gathering in the market since late April. After Trump revealed his intense introductory policies on April 2, a date he called “Liberation Day”, and major stock indicators such as S&P 500. However, starting in late April, they gathered them as investors investing in an unsuccessful manner of Trump’s tariff.

By early May, the markets regained most of its losses in April. By late June, the S&P 500 has announced the high, as Trump announced the tariff deals with China and the main commercial partners.