U.S. and European stock futures dipped in Asia on Friday after President Donald Trump stepped up tariff threats against Europe and Canada, restraining a broad rally in regional share markets. The dollar gained on the euro and the Canadian currency as Trump issued a letter late on Thursday that a 35% tariff rate on all imports from Canada would apply from August 1,

Trump said on Thursday the U.S. would impose a 35% levy on imports from Canada next month. The U.S. president also floated a blanket 15% or 20% tariff rate on other countries, a step up from the current 10% baseline rate.