Global stocks fell on Friday after U.S. President Donald Trump ramped up his tariff war against Canada, leaving Europe squarely in the firing line, sparking a modest investor push into safe havens like gold,

President Donald Trump announced a 35% tariff on goods from Canada, one of the USA's largest trading partners and which got hit with a higher rate than threatened for other close allies. The announcement July 10 came amid a flurry of letters going out this week dictating tariff rates for each of more than a dozen countries.

Asia stock markets trade mixed on Friday, reacting to renewed worries about U.S. trade tariffs following President Donald Trump's announcement of significant duties against Canada. Meanwhile, China's markets outperformed the region,

Japan's June core inflation likely slowed but remained above the central bank's 2% target, a Reuters poll showed, keeping it under pressure to resume interest rate hikes as U.S. trade tariffs threaten an already fragile economy.

President Donald Trump's threats to impose high tariffs on countries make U.S. trading partners and investors nervous. But his sector tariffs could hurt consumers and businesses more in the long run.

In his new round of tariffs being announced this week, Trump is essentially tethering the entire world economy to his instinctual belief that import taxes will deliver factory jobs and stronger growth in the U.S., rather than the inflation and slowdown predicted by many economists.

U.S. Secretary of State Marco Rubio met counterparts in Southeast Asia on Thursday during his first visit to Asia since taking office, seeking to reassure them the region is a U.S. priority despite President Donald Trump's tariff offensive.